Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 August 2013
whether loss making company require to charge depreciation on fixed assets?
Please advise.....
Please advise.....
27 August 2013
yes depreciation can be charged...
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.
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 August 2013
Thanks for reply
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