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Depreciation.................

This query is : Resolved 
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(Querist)
17 June 2009 We purchased 5 pcs mobile @ Rs.4000/-(Total amount Rs.20000/-) in one vat invoice.
So, as per Company act, can we get 100% depreciation for each mobile because each mobile value lessthan Rs. 5000/-?
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Prakash

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Prakash (Querist)
19 June 2009 Yes, U MUST GET 100% DEPRECIATION
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
19 June 2009 No, you are not eligible to claim 100% depreciation.
You should claim as per prescribed rates of plant & machinery or a higher rate.
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