banner_ad

DEPRECIATION

This query is : Resolved 
Profile Image

Profile Image

(Querist)
30 July 2009 AS PER INCOME TAX ACT IF ANY ASSET PURCHASE AFTER SEPTEMBER 50 % DEPRECIATION WILL BE ALLOWED. LET SAY IF DEPRECIATION IS RS. 1000/- THEN ONLY RS. 500/- TO BE CONSIDER. MY QUESTION IS IF NEW BUSINESS STARTED AFTER SEPTEMBER WE NEED TO WE DEDUCT THE DEPRECIATION 50% ON THE DEPRECIATION VALUE. EXAMPLE IF I PURCHASE FURNUITURE ON 01/12/2008 FOR RS. 20000/- DEPRECIATION ON THIS FURNITURE FOR THE WHOLE YEAR IS 2000/- WE NEED TO DEDUCT ONLY RS. 1000/- (50% ) OR RS. 2000/-
Profile Image

Shyam Lal Naik

Profile Image

Shyam Lal Naik (Expert)
30 July 2009 You are right.

Assets put to use after 30th of September are entitled to 50% depreciation.

Please see that the date on which the asset is put to use is relevent, not the date of purchase.
Profile Image

CA Devanshi Gandhi (Ajani)

Profile Image

CA Devanshi Gandhi (Ajani) (Expert)
30 July 2009 agree with the expert
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details