Depreciation
This query is : Open
21 September 2011
My Company is not working since last 4 years,
As the machinery was utilised last years we used to charge depreciation,
but when we business is not running the depreciation is not being charged.
IS IT MANDATORY TO CHARGE DEPRECIATION EVEN IF THE MACHINERY STOPPED BEING UTILISED.
As the machinery was utilised last years we used to charge depreciation,
but when we business is not running the depreciation is not being charged.
IS IT MANDATORY TO CHARGE DEPRECIATION EVEN IF THE MACHINERY STOPPED BEING UTILISED.
21 September 2011
No it is not mandatory to charge depreciation but however to declare dividend it is must to provide depreciation if any outstanding.
For income tax purpose the depreciation is must to charge for and it will be carry forward as unabsorbed depreciation for long term.
For income tax purpose the depreciation is must to charge for and it will be carry forward as unabsorbed depreciation for long term.
22 September 2011
but we are not utilising the assets,
any reference if possible plz
any reference if possible plz
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- GST ON EXPORT COMMISSION
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
