Depreciation
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 May 2014
Is there depreciation allowable or not @ 50% of depreciation rate under Income Tax Act for the financial year 2013-14 if an asset is purchased on 31.3.2014 and put to use on the same date by the assessee.
Sandeep Dharar
(Expert)
02 May 2014
Yes it is on some specific assets
Rupesh Jain
(Expert)
02 May 2014
yes you can claim 50% of depreciation rate if assets is use during the year.
Gnanashekar.R
(Querist)
03 May 2014
as sec 32 you are eligible for 50% dep
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