ITAT Delhi held that as per the MAT provisions of section 115JB of the Income Tax Act the lower of book losses or unabsorbed ...

Typically, companies calculate depreciation for their own purposes using a method called straight-line depreciation. This method takes the acquired cost of the asset and divides its years of useful ...

Depreciation is an accounting procedure that gradually reduces the cost of assets that a company carries on its books. While acquiring assets is not always helpful from a tax perspective, depreciating ...

Depreciation is a concept and a method that recognizes that some business assets become less valuable over time and provides a way to calculate and record the effects of this. Depreciation impacts a ...

Recent changes made by the IRS and Congress have greatly expanded taxpayers’ ability to currently deduct the costs of property purchased for business use, instead of having to depreciate those costs ...