Depreciation

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85 Points Joined September 2017

Firm is not dissolve but last financial year there were no work. Can firm claim dep. For that financial year?

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On 13 December 2017 at 12:56 Report
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Self Employed and Agriculture
1349 Points Joined November 2014

Yes depreciation can be claimed for passive work also once machinery is put to use

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On 13 December 2017 at 13:28
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300 Points Joined June 2017
depriciation claim but since there is no income than such case depriciation become unabsorb depriciation and carried forward to future years
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On 13 December 2017 at 14:40
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300 Points Joined June 2017
you can not show loss due to depriciation
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On 13 December 2017 at 14:41
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85 Points Joined September 2017
Can bank interest and charges claim by firm
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On 13 December 2017 at 17:10
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CA
39 Points Joined December 2013
yes u can claim depreciation and also interest since the funds are used for business not necessarily in the current year but also in previous years
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On 13 December 2017 at 19:16
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CA
39 Points Joined December 2013
but check the provisions of sec 43b if interest is overdue it will not be allowed as deduction
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On 13 December 2017 at 19:16


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