Write off of fixed assets
Suresh Pai S (Tax Consultant) (1029 Points)
16 June 2017
is there is any provision in the Income Tax Act, to write off unused fixed assets.
4 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 16 June 2017
For depreciated assets..........No till useful life.
Poltu Ghosh
(Job)
(1865 Points)
Replied 16 June 2017
No because in income tax block of assets concept prevails. So even if an individual asset is useless but other items are useful assets in that block so no concept or provision for written off of waste asset is there.
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