Depreciation
This query is : Open
14 October 2016
If a machinery is purchased on 1.11.2015 of 15% block and is put to use on the same date as per the income tax rules since it is put to use for less than 180 days the rate will be 7.5%. My query is whether the rest 7.5% is allowed in the next year?
14 October 2016
Next year you will use the machine From 01-04-2016 to 31-03-2017 so full year the machine will be used hence you have to charge 15% dep. on WDV of 31-03-2016. there is no need to think about 7.5% it is irrelevant.
Thanks.
Thanks.
14 October 2016
Thank you sir.
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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- FEMA regulation Act. for inward remitance
- Grand in aid
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
