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Depreciation

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(Querist)
25 August 2009 Can the assessee claim depreciation on the asset used for 11 days in the last year Under the Companies Act, if so at what percent.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
25 August 2009 As per Companies Act,1956 depreciation has to be charged on pro rata basis. In other words 11 days depreciation has to be provided in the accounts as per the said act.
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Kamlesh Agrawal

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Kamlesh Agrawal (Expert)
25 August 2009 As per Companies Act Depreciation require to be provided on pro data basis.You can provide depreciation for 11 days in the books of account.Rate of depreciation depends upon the asset class of asset.
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sanjay

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sanjay (Querist)
26 August 2009 Thanks for the reply
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