Depreciation
This query is : Resolved
03 June 2015
can depreciation on goodwill be claim on the 2nd year if it omitted to claim on the 1st yr u/s 32 ??
04 June 2015
For income tax purpose depreciation will be deemed to have been allowed even if depreciation has bot been claimed by the assesse. So depreciation can be claimed in the second year even if it has not been claimed in the first year. But the amount of the depreciation will be the depreciation calculated for the second year and not that of the first year.
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