Depreciation

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CA Priya (Querist)
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10 June 2010 Sir,
If i purchase an asset in previous year but ommitted to capitalise the same last year but capitalised current year. The asset was put to use last year itself. Can i claim depreciation from the actual date it is put to use or from 01.04 of the current year? Pls explain

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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10 June 2010 You can Depreciate from actual date of put into use. what ever depreciation related to previous year need to show as prior period adjustment

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