Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 June 2014
If i purchase an machinery as on 31/3/14,can i claim depreciation for the F.Y 2013-14 @7.5%??
21 June 2014
Yes, if it is put to use in that day.
21 June 2014
you can claim depreciation under the income tax act or under company act if machinery in use on 31.3.2014. other wise not allowed. under income tax you can claim 50% of depreciation rate( 50% of @ 15%). and as company act according to days machinery used by you.
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