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Q. > Please Help: Depreciation
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.
answered Aug 27, 2012 by CA Satuti Mahajan , batala
You have to claim 100% depreciation, np provision for 50% depreciation.
answered Oct 14, 2012 by CA VIKAS JAIN , DELHI
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.
Experts Panelist
Comments
CA Nikhil Bansal
25-Aug-2012 , 11:47:48 pmNo, you have to claim 100% depreciation. in your example you should claim 120000 for depreciation and 80000 will be unabsorbed depreciation.