RAJA P M
("Do the Right Thing...!!!")
(127334 Points)
Replied 24 February 2024
| Originally posted by : Yasaswi Gomes new | ||
 |
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? |  |
Bcoz, That's not a person or respondent or Just machine.
Also we can't work based on that...
Yasaswi Gomes new
(Finance )
(4487 Points)
Replied 25 February 2024
Machinery purchased on 1-3-2017 and put to use on 1-11-2017 for the purpose of business or profession, the depreciation would be allowed 100% of the prescribed rate and not 50% of it during the previous year 2017-18.
Depreciation allowance under section 32 of the Income Tax Act, 1961 (caclubindia.com)
CAclubindia
