04 December 2009
we have procured 610 chairs & the value of # 1chair is Rs2600/-. Total value is Rs 12 lakh. Whehter we have to charge 100% depreciation on the furnitures (or) depreciation should be charged on pro rata basis (ie) if the asets are getting capitalised on Nov 01, 2009 for that period. The companies act &IT act allows for 100% depreciation. my query is whther depn is to be charged 100% on Nov 30, 2009 (or)depn on prorata basis. reply at the earliest is requested.