Friends,
What happens if we do not claim depreciation during first year of business? can we claim in the next year without any problem, please help me..
Friends,
What happens if we do not claim depreciation during first year of business? can we claim in the next year without any problem, please help me..
Hi uday,
If we dont claim dep in 2008-09 which we should have claimed,
then in 2009-10, will depreciation be calculated on a notionally reduced WDV or
the actual cost?
I have not got practical experience in a case like this..
I think we should compute the WDV on first day of the year and then give the depreciation, becuase it should have been allow ed as per expto 32(1)..
CAclubindia
