Depreciation 180days

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Raj Dutta (Querist)
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16 July 2010 If an Asset is purchased during the PY and put into use from 28 th September of the PY then whether depreciation is to be calculated at full rate or Half rate as per IT act.
also please tell me whether 180 days is to calculated taking 30 days/pm average or taking actual number of days in each month.its so confusing.

with regards
raaj

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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16 July 2010 1. First query it is coming 185 days ( 28th sep to 31st march)= so full rate depreciation

2.It is not based on average, it is actual days you need to calculate

Aditya Maheshwari

Aditya Maheshwari (Expert)
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16 July 2010 Actual no. of days needs to be counted and in ur case it is more than 180 days and hence full rate depn allowable.

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