#section 32
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645 articlesIncome Tax
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Depreciation is available on genuine goodwill
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Income Tax
Section 32 Understanding Depreciation with case laws
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Expenditure incurred on software eligible for depreciation @60%
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Depreciation allowable on Assets ready to use but not put to use
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Income Tax
Non-Competent Fee paid is Intangible Asset- Depreciation allowable
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Income Tax
Batteries used with UPS and forming system for power back up qualifies for depreciation at 60%
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Income Tax
UPS is Integral part of Computer and eligible for 60% Depreciation
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Income Tax
In case of finance lease, lessor eligible to claim depreciation
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Income Tax
Printer being part of computer system eligible for 60% depreciation
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Income Tax
Disallowance for personal use of Car cannot be made for mere non maintenance of log book
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Income Tax
Bifurcation of consideration into land and building separately necessary for claiming depreciation
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Brand is an intellectual property eligible for depreciation U/s. 32
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Income Tax
Mere wrong claim of depreciation would not invite penalty U/s. 271(1)(c)
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Income Tax
