Depreciation as per companies act.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 October 2016 Dear Experts,
A asset was purchased as on
11/1/2016. Rs. 10 Lakh however
useful life of asset is 15 year. pls let me
Know can we claim full depreciation
As per SLM method even in AY
2016-17 i.e. 1000000*5 50000
9500000/15 ( 63333.33/- PM)

Regard
Raman Singh

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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31 October 2016 Cannot claim depreciation for full year. To be claimed on 'pro rata ' basis means for 81 days only Inference is from Notes -2 of schedule II.

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