Dep 180 Days rule

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This query is : Resolved

Jayesh Jagetiya (Querist)

28 March 2009 Dear Freinds,
We have purchased & put to use the fixed assets on the following dates:-

1. 28.09.2008
2. 29.09.2008
3. 30.09.2008
4. 01.10.2008
5. 02.10.2008
6. 03.10.2008

Depriciation to be taken 100% or 50% on for assets purchased & put to used on above each date? (considering the 180 days rule)

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)

28 March 2009 All the assets which are used for 180days or more, 100% dep. will be allowed on the same.

As above in your case, if all the assets put to use on the same day then 100% dep. will be allowed except on the last addition.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)

28 March 2009 every asset will be charged at 100%
and if asset purchased and put to use on or after 4th October will be charged at 50%

Manmohan ACA, CS

Manmohan ACA, CS (Expert)

28 March 2009 100% in all the cases

Jayesh Jagetiya

Jayesh Jagetiya (Querist)

28 March 2009 APR 30
MAY 31
JUN 30
JUL 31
AUG 31
SEPT 30
OCT 31
NOV 30
DEC 31
JAN 31
FEB 28
MAR 31
365

ACCORDING TO THIS F Y 2008-09 IF WE CALCULATE EXACT DAYS, 180 DAYS WILL BE STARTED FROM 3RD OCTOBER, SO IN MY OPENION ASSET PURCHASED ON OR AFTER 3RD OCTOBER SHOULD BE ELIGIBLE FOR 50% DEPRICIATION.

PLEASE CORRECT ME.......

Laxmi Narayana Sahu

Laxmi Narayana Sahu (Expert)

28 March 2009
Yes & I Co,pletely agree with CA Tilak Raj Sharma

Ravi Shankar

Ravi Shankar (Expert)

29 March 2009 I am sorry for being rude! But why at all should such silly questions be raised in the forum? Cannot one, count the number of days an asset has been put to use, by himself? Does someone want an assistance in this regard? Lets not misuse this forum by posing questions just for the heck of it! I once again feel sorry for having had to reply in this manner.

Jayesh Jagetiya

Jayesh Jagetiya (Querist)

29 March 2009 Mr. Ravi Shanker,
u want to say that we are r fool? right?

For u this question may silly but for others it is not.
Many persons we may see taking 50% depriciation for the Assets purchased after 30th September.

Also u can see diffrent answers for the single query raised.

U dont reply if u feel like this , but pls dont teach others, how to work.

This is the forum by which we can increase our knowledge, so we should do this only.

CA J M Pattanayak

CA J M Pattanayak (Expert)

29 March 2009 Dear Jayesh
the assets purchased on or after 4th Oct will be eligible for 50% dep.
In your question all the assets are eligible for 100% dep as it is put use on or before 03.10.

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