Depreciation

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akshay soni (Querist)
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16 December 2015 hi all if I acquired and install 100% depreciable assests on 31-12-15. then in case what is depreciation rate. and can I eligible for additional dep? what is effective dep rate for py16 &17

Mohit Singla

Mohit Singla (Expert)
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16 December 2015 As the asset has been used for less than 180 days, the rate of Depreciation shall reduced to 50% and its also makes you eligible for taking additional depreciation. So the effective rate comes to 70% for the P.Y. 2015-16 and balance amount of assets should be depreciated at the rate of 100% (As asset is of 100% Block) in P.Y. 2016-17.

akshay soni

akshay soni (Querist)
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16 December 2015 thank you Mohit as I know in py16 assessee shall be claim dep @ 60%. and next py ie.py17 assesses can claim Balance 40% dep.. maximum upto value of block if he has only one assets. please make sure about this provision. thank u very much once again Mohit

akshay soni

akshay soni (Querist)
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16 December 2015 additional dep date will be 10% ie 20*50% . am I right?

Mohit Singla

Mohit Singla (Expert)
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17 December 2015 Sorry.....yes the additional depreciation rate comes to 10%.

akshay soni

akshay soni (Querist)
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17 December 2015 thank u very much Mohit .. your guidance help me lot.

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