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Depreciation

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Querist : Anonymous

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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.
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Sandeep Dharar

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Sandeep Dharar (Expert)
02 May 2014 Yes it is on some specific assets
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Rupesh Jain

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Rupesh Jain (Expert)
02 May 2014 yes you can claim 50% of depreciation rate if assets is use during the year.
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Gnanashekar.R

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Gnanashekar.R (Querist)
03 May 2014 as sec 32 you are eligible for 50% dep
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