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Depreciation as per sch-ii

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29 July 2015 if the asset is purchased on the last day of the financial year i.e., on 31/03/2015 . is there any need to calculate depreciation for that one day and to account for?

pls anyone help me
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
29 July 2015 If it is put to use on 31.03.2015 then you need to calculate depreciation for one day.

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