as per the provisions it is said that when the asset is capitalised along with tax in the books of accounts ...u can't claim input tax credit...other option if u are capitalised with out tax ..u can claim input tax credit...
here in my view ..to get the immediate benefit it is better to take itc rather than depreciation...
please explain me if it is better to take depreciation rather than itc
Menu
Depreciation Vs input tax
Replies (2)
Yes... ITC is better than Depreciation.
And One more think...
If the Bill value accounting (FA & Tax) with splitting of basic & tax then no more questions for depreciation on tax amount...
And One more think...
If the Bill value accounting (FA & Tax) with splitting of basic & tax then no more questions for depreciation on tax amount...
Tax depreciation is the depreciation that can be listed as an expense on a tax return for a given reporting period under the applicable tax laws. It is used to reduce the amount of taxable income reported by a business. Depreciation is the gradual charging to expense of a fixed asset's cost over its useful life.
Recent Topics :
- ITC availed on 5%-rate passenger transport (AC bus
- Extension of Due Date of AY 2026-27
- FAST DS 2026
- Does AIS GST Purchase aggregate GSTR-2B expenses?
- Form 26A - System has encountered some technical p
- Tool to convert GST invoice PDFs into Excel —
- Revised or rectification or leave it?
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
Related Topics :
CAclubindia
