Depreciation
This query is : Resolved
24 July 2010
If a Firm incorporate in Dec but start it;s activity on 30.03.2010.
now the firms want to claim the depreciation only for 2 days.
but as per income tax act - the assessee has to charged the dep for less then 180 days or more then 180 days.
kindly advise, whether the firm can charged the dep only for 2 days.
If a Firm incorporate in Dec but start it;s activity on 30.03.2010.
now the firms want to claim the depreciation only for 2 days.
but as per income tax act - the assessee has to charged the dep for less then 180 days or more then 180 days.
kindly advise, whether the firm can charged the dep only for 2 days.
24 July 2010
as per companies act 2day depreciation to be shown in accounts.
As per income tax act depreciation can be claimed for 6 months.( i.e. half the rate of actual rate of depreciation)
As per income tax act depreciation can be claimed for 6 months.( i.e. half the rate of actual rate of depreciation)
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