Depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 February 2015 I have a query regarding Depreciation on fixed assets.
There is HUF whose business loss without providing for depreciation is Rs.841978.00.
So shall i provide for current year depreciation on fixed assets @15% on car?
or Shall i Show A loss of Rs.841978.
There is also income from other sources of Rs.9592.00.
Deprecition to be provided is Rs.843051.
Plz reply

Querist : Anonymous

Querist : Anonymous (Querist)

02 February 2015 Plz reply its urgent

Rupesh Jain

Rupesh Jain (Expert)
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02 February 2015 you have to provide the depreciation under the income tax act and you can carry forward the depreciation to unlimited period. for sett off against the future income.

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