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Depreciation

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 August 2013 whether loss making company require to charge depreciation on fixed assets?

Please advise.....
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CA Parul Saxena

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CA Parul Saxena (Expert)
27 August 2013 yes depreciation can be charged...
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
27 August 2013 Depreciation is mandatory, therefore it has to be charged for income tax purpose irrespective of the trading result. Please see explanation 5 to section 32(1) of the Income tax Act,1961.
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 August 2013 Thanks for reply

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