Depreciation

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CA ASHIT NATVERLAL DESAI (Querist)
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30 August 2013 Whether Depreciation is allowable in company if the company is the co applicant (For Loan) and installments are paid by the company?

TKKKKKK (Expert)
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30 August 2013 no, asset should be used by company for business. On that basis co can claim depreciation.

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CA ASHIT NATVERLAL DESAI (Querist)
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03 September 2013 Thank you very much for you kind and prompt reply. All doubts are clear now.

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