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Depreciation

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 November 2011 Can we claim Depreciation on the Assets purchased in cash of more than Rs. 20,000?
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
17 November 2011 Once an expenditure qualifies as asset, depreciation can be claimed on it irrespective of the amount.
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CA sheekhr

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CA sheekhr (Expert)
17 November 2011 amt must be 5000rs and above as per com.act
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Yogesh Agarwal

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Yogesh Agarwal (Expert)
17 November 2011 Yes you can claim depreciation on the same it does not matter you bought that asset for cash or by cheque...
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