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Depreciation

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 June 2011 Can Assets purchase having value of Rs. 5000/- be write off at once under the Tax Audit
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DEEP SINGH TOMAR

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DEEP SINGH TOMAR (Expert)
23 June 2011 yes

Where the actual cost of fixed assets does not exceed Rs.5000, the entire cost is allowed as depreciation in the year in which such plant and machinery is first put to use.

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