DEPRECIATION
Prasad Royals (86 Points)
02 May 2019
CAN I PUT DEPRECIATION AS PER COMPANIES ACT AND INCOME TAX ACT ,ON BUILDING WHICH IS IN PROGESS NOT CAME TO USE
2 Replies
Mayur Patil
(Article)
(1276 Points)
Replied 03 May 2019
No,
as per income tax to claim depreciation, date of put to use required.
while as per companies act put to use not mandatory. depreciation can be claim on the basis of useful life from the date of purchase or date of completion of construction.
as per income tax to claim depreciation, date of put to use required.
while as per companies act put to use not mandatory. depreciation can be claim on the basis of useful life from the date of purchase or date of completion of construction.
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