Depreciation
This query is : Resolved
19 April 2012
Sir,
Is Depreciation compulsory to deduct as expenses for income tax purpose?
Kindly Solve My Query,,
Regards,
Chirag Doshi
Is Depreciation compulsory to deduct as expenses for income tax purpose?
Kindly Solve My Query,,
Regards,
Chirag Doshi
19 April 2012
As per explanation.5 to section 32 clarifies that if you claimed or not, allowance for depreciation should be given while calculating Income by concerned authority( Mandatory).
19 April 2012
Yes. Claiming of Depreciation is mandatory and assessee does not have a choice for it.
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