Depreciation as per incometax act
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 September 2011
Dear sir,
My client was purchase readymade furniture on 1/10/10 whether dep as per income tax act charge full or half ,please reply its urgent..................
My client was purchase readymade furniture on 1/10/10 whether dep as per income tax act charge full or half ,please reply its urgent..................
CA Navin Jain
(Expert)
20 September 2011
charge the full rate depreciation because assets are being to use for more than 180 days.
20 September 2011
Assuming that the asset was put to use on the date of purchase itself, CA Navin Jain is correct and depreciation wil be charged at full rate as the asset has been put to use for more than 180 days.
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