13 December 2021
Sir I have one pokland machine. My main business is to give such machine on hire or rent. but in F Y 20-21 nothing any receipts was received from rent of such machine. During the F Y 20-21 such machine was not used. So T O is zero. So I have to ask you , can i claimed depreciation on such machine in F Y 20-21. & What is rate of depreciation ?
13 December 2021
When turnover is zero, no need to charge depreciation and carry forward. Otherwise also depreciation is not charged when asset is not put to use...
CAclubindia
