Caluclation of depreciation
This query is : Resolved
18 January 2013
A company is engaged in generation and distribution of solar power. The company has charged depreciation on SLM Basis. How should we compute the depreciation, i.e. on day to day basis or as per the income tax on 180 days or more basis. Please guide urgently
18 January 2013
Under the Income Tax Act Depreciation is calculated at half the rate when the assset has been used for less than 180 days. This rule applies in the above case also.
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