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Depreciation

This query is : Resolved 
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(Querist)
01 July 2010 a trading co only has INTEREST and COMMISSION income during the year,can deprecition be claimed during the year.
its main business is trading in teas,but during the year it has discontinued its trading operation.


THNIING YOU IN ADVANCE

WITH REGARDS

RAAJ
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
01 July 2010 Commission income will be business income and if assets have been used in earning such income depreciation can be allowed.

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