Claim depreciation
When an asset is purchased and the similar is not employed for the financial year, must the company charge the depreciation and the reason for the similar?
Expert
As per income tax law can’t claim depreciation however as per company action we can claim it. When assets are machinery and are ready to use however not used throughout period we can claim for depreciation since machinery is ready for use and company encompass certificate and bills for the installation of machinery.
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