Depreciation
Querist : Anonymous
A new firm/co incorporated in Jan 2013, it means operative for 3 months onle.
As per IT provision there is no concept of dep. on the basis of no. of days. Section talk about concept of less than 180 days & more than 180 days.
My concern is even co. is in existence just for 90 days will it be allowed 180 days dep.
pls suggest me as per applicable prov. of act the correct treatment
Thanks
Rahul
Querist : Anonymous
Thanks for expert openion
Logically i am agreed with your view & have the same openion however i have not found any clarification or prov. in the Act.
Pls provide me the link/prov. where i can get the details about the same.
Once again Many Thx
Rahul
Querist : Anonymous
Awaiting your reply
Rahul
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