Depreciation
This query is : Resolved
27 October 2015
please provide me the rate of depreciation as per income tax act on musical instruments for professional [musician / drummer]
27 October 2015
Seems 15% is the appropriate rate.
Message likes :
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28 October 2015
in same case if assessee in his previous return of income had not disclosed any assets nor claimed any depreciation then now for current year what will be the cost of asset. wdv as on 31/03/15 or original cost
23 November 2015
Better to show the WDV as on 31-03-2015, if the asset is put into use in the previous return period.
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