Capital assets and depreciation

hetalsangoi (Querist) 06 December 2012 This query is : Resolved
my firm if do not claim deprecation on the purchased property and my firm is planning to sell after 4 years what benefit is available d on account of not claiming the depreciation?

what are the section are releveant to go in detail?

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Anil Kumar-Advocate (Expert) 07 December 2012
Dear Hetalsangoi.

Please specify the type of property your company had purchased.How the property is being utilized. What prompted your company to avoid depreciation ? What is the status of your company ?.Meaning thereby Proprietorship, Company or so on.However, you may refer sections 32,34 & 34A of the Income Tax Act'61 on depreciation.You can also contact me at legaments_adv@rediffmail.com.

Raj Kumar Makkad (Expert) 08 December 2012
Until you provide the desired facts of the case, no definite reply can be offered to you.

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