Depreciation
This query is : Resolved
18 October 2014
Our company has purchased a machine on 30 sept 2014. Is it eligible for full15 depr. If 180 days r calculated then 30 sept is 183 day of the year then 7.5 is eligible.plz solve my query
18 October 2014
If the asset is used for less than 180 days then 50% of the depreciation is claimable;
Else if use is 180 days or more then full depreciation claim is allowable.
Else if use is 180 days or more then full depreciation claim is allowable.
18 October 2014
Sir,
Your company eligible for 15% depreciation .
3rd October shall be the cutoff date. I.e., if any assets purchased before 3rd October asset eligible for full depreciation.
If assets purchased and put use after 3rd October then 50% of depreciation allowed.
AND
You told that you purchased the assets on 30th September No. of days shall be 183 days . So more than 180 days so eligible for full depreciation.
Your company eligible for 15% depreciation .
3rd October shall be the cutoff date. I.e., if any assets purchased before 3rd October asset eligible for full depreciation.
If assets purchased and put use after 3rd October then 50% of depreciation allowed.
AND
You told that you purchased the assets on 30th September No. of days shall be 183 days . So more than 180 days so eligible for full depreciation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Supply through E-commerce Operators
- TDS Claim year
- Sales amount in Gstr1
- TDS Challan Code
- Relief u/s Section 89
- Rent lease agreement
- Taxation on LTCG for property sold after 24JUL2024
- Merchant Export Accounting
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
