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Depreciation

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(Querist)
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
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
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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