Depreciation|CASANSAAR 1840

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Please Help: Depreciation

Posted Date : 22-Aug-2012 , 02:55:58 pm | Posted By: Dheeraj Kumar

Category : Accounts | Answers : 2| Comments : 1| Hits: 296

Can we claim 50% of depreciation of an accounting period for shown profit in company. Eg. A private limited co. has dep. for the year is 2,00,000 and profit before depreciation is 1,20,000. So can we claim depreciation of Rs. 1,00,000(50%) for show profit 20,000.

Answers:

Answer by: CA Satuti Mahajan

You have to claim 100% depreciation, np provision for 50% depreciation.

Answer by: CA VIKAS JAIN

According to sec 28 PGBP income should be computed after considering the availaible dep under sec 32. There has been a judgment of high court according to which to claim depreciation is a mandatory deduction. so whatever amount of depreciation, it should be claim as deduction in a year to which it relates.

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Comments

Posted By : CA Nikhil Bansal	25-Aug-2012, 11:47:48
No, you have to claim 100% depreciation. in your example you should claim 120000 for depreciation and 80000 will be unabsorbed depreciation.

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