Depreciation Calculation

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Sujith (Querist)
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22 June 2010 If there is any change in the calculation of depreciation where delection applicable cases as per IT Act????

If deletion of assets is deducted either from addition more than six moths or use less than six months???????

Pls help me....

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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22 June 2010 The act is silent on this issue. No change has been brought in in the Finance Act,2010 as well. However, it is beneficial to follow LIFO method so that the amount of depreciation will be higher.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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22 June 2010 As per income tax act, If you sold any asset whether it sold in Feb (11th Month), Still it is deducting opening WDV of asset.
not after 6 month.

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