Dep.
This query is : Resolved
15 September 2014
if an asset purchased in oct2011 and not used in 2011-12. this asset used from oct2013. what is the treatment of assets dep. in year 2011-12,2012-13,2013-14.
15 September 2014
for every year whther used or not dep needs to be charged...............
Nikhil Kaushik
(Expert)
15 September 2014
if the asset was never put to use, depreciation shall not be allowed till AY 2014-15. Please refer Superfil Products Ltd. versus Assistant Commissioner of Income-tax (IT Appeal NO. 2053 (MDS.) OF 2011 [A.Y. 1998-99]
for AY 2014-15, depreciation shall be 50% of the full depreciation amount
for AY 2014-15, depreciation shall be 50% of the full depreciation amount
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