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Unclaimed depreciation- Laptop

23 February 2024

For example, I purchased a laptop for Rs 10000 on 1st Jan 2023. FY 22-23 ,I calimed depreciation Rs 2000(Rs 10000*20%) ie 50% of 40%. How much depreciation can be claimed in FY 23-24. Rs 3200 or 5200? Can we claim unclaimed depreciation for succeeding previous year(2023-24)

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18 Replies

RAJA P M ("Do the Right Thing...!!!") (127171 Points)
Replied 23 February 2024

Rs. 3200/-....

Unclaimed...???

Can You elaborate with details please...???

Amrutha KM (30 Points)
Replied 23 February 2024

Asset purchased and put into use for less than 180 days. So I claimed depreciation @ 50%. I have a doubt regarding the balance 50%

RAJA P M ("Do the Right Thing...!!!") (127171 Points)
Replied 23 February 2024

No...
That's not available. Bcoz, It's used Less than 180 days. As per this available depreciation only 50%.
It's not unclaimed depreciation...

1 Like

Amrutha KM (30 Points)
Replied 23 February 2024

What will be the depreciation amount for FY 23-24?

RAJA P M ("Do the Right Thing...!!!") (127171 Points)
Replied 23 February 2024

That's already noted...
Rs. 3200/-...

Yasaswi Gomes new (Finance ) (4479 Points)
Replied 23 February 2024

Let’s break down the depreciation calculation for your laptop:

Initial Cost of Laptop: Rs 10,000
Depreciation Rate: 20% (as you mentioned)
Depreciable Amount: Rs 10,000 - Rs 2,000 (claimed in FY 22-23) = Rs 8,000

Now, let’s calculate the annual depreciation using the straight-line method:

Annual Depreciation = Depreciable Amount / Useful Life
Useful Life (in years) = 5 (since you haven’t mentioned a specific useful life, I’ll assume 5 years)

Annual Depreciation = Rs 8,000 / 5 = Rs 1,600

For FY 23-24, you can claim a depreciation of Rs 1,600 for your laptop.

Regarding unclaimed depreciation from the previous year (FY 22-23), unfortunately, you cannot carry forward unclaimed depreciation to the succeeding year (FY 23-24). Each financial year’s depreciation is calculated independently based on the asset’s value and useful life during that specific year.

Therefore, the total depreciation claimed in FY 23-24 would be Rs 1,600, and you cannot include any unclaimed depreciation from the previous year.

If you have any more questions or need further clarification, feel free to ask! 😊

1 Like

RAJA P M ("Do the Right Thing...!!!") (127171 Points)
Replied 23 February 2024

Ohhh God....

@ Yasaswi,

Already I told you...
Please come out from the straight view as You worked, also don't see as chariot horse...

Your reply is may be right if pvt Ltd...

Please avoid these practice...

1 Like

Yasaswi Gomes new (Finance ) (4479 Points)
Replied 23 February 2024

LOL. I invented world class code today and made a blog https://yasaswigomes.blogspot.com/2024/02/hi-all-another-day-at-work-and-i-am.html here. everyone will be shocked :)

RAJA P M ("Do the Right Thing...!!!") (127171 Points)
Replied 23 February 2024

Lol & Lolll...

I don't like self advertising...

Sorry, I'm not like this...

Enjoy with Your invention....

GOOD LUCK...

Amrutha KM (30 Points)
Replied 23 February 2024

Asset is acquired by the assessee during the previous year and is put to use for the purposes of business for a period of less than one hundred and eighty days in that previous year, and the deduction under this sub-section in respect of such asset is restricted to fifty per cent of the amount calculated at the percentage prescribed for an asset under clause [iia] for that previous year, then, the deduction for the balance fifty per cent of the amount calculated at the percentage prescribed for such asset under clause [iia] shall be allowed under this sub-section in the immediately succeeding previous year in respect of such asset

Can anyone please explain this?

Yasaswi Gomes new (Finance ) (4479 Points)
Replied 23 February 2024

Stay like that dont worry for not trying. triers are loosers

Yasaswi Gomes new (Finance ) (4479 Points)
Replied 23 February 2024

Complete Guide on Depreciation as per Income Tax - Section 32 - TaxAdda

i didnt get your clauses. maybe this will help

Ashwin Kumar (CA ipcc) (447 Points)
Replied 24 February 2024

You are getting confused between between depreciation and additional depreciation

Yasaswi Gomes new (Finance ) (4479 Points)
Replied 24 February 2024

Depreciation has insufficient examples like how the economy is in a deficit. Oherwise why would anyone ask questions about depreciation when google and bing are there?