Amrit Dalmia (Indirect Tax Consultant) (912 Points)
19 November 2013The relevant provision of the Income Tax Act says that depreciation can be claimed on only one office or factory building. Which is that relevant section? Kindly reply with exact sub-section and clauses if any that support the relevant provisions of the Act.
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 20 November 2013
Sir,
Are you sure?? In my opinion there is no such general provision..May be you are talking about some scenario in which depreciation only on one factory building or office can be claimed.
Fatema.
Amrit Dalmia
(Indirect Tax Consultant)
(912 Points)
Replied 20 November 2013
Mam,
It may not be. Actually, I'm not sure about the existence of any such provision that's why I have posted a query at the forum.
Reards.
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 20 November 2013
There is no such provision..Claim depreciation if used for business purpose.
Amrit Dalmia
(Indirect Tax Consultant)
(912 Points)
Replied 20 November 2013
Ok, thanks. Is there any restriction on the number of buildings on which depreciation can be claimed?
Romesh Tawari
(PROPRIETOR)
(56 Points)
Replied 20 November 2013
as such there is no restriction of number of building on which depreciation can be claimed
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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