Depreciation
This query is : Resolved
13 February 2009
When we should start charging depreciation on newly purchased assests?
plz answer with reason.
plz answer with reason.
13 February 2009
Conditions are:-
1) the assets should be owned, wholly or partly, by the assessee and
2) the assets should be actually used for the purpose of the assessee's business or profession.
3) pl refer section 32(1) for a detailed study.
1) the assets should be owned, wholly or partly, by the assessee and
2) the assets should be actually used for the purpose of the assessee's business or profession.
3) pl refer section 32(1) for a detailed study.
13 February 2009
Only after the asset is put to use.
Refer Sec.-32 of the income tax act.
Refer Sec.-32 of the income tax act.
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