Depreciation for addition of fixed assets
This query is : Resolved
28 May 2013
How is depreciation calculated for addition of fixed assets as per Income tax Act.ie for assets purchased upto September 30th and for assets purchased after September 30th
28 May 2013
The method of calculation is as follows:-
i) if the asset is acquired and used for 180 days or more depreciate at full rate.
ii) if less than 180 days depreciate at 1/2 the rate.
For details please refer 2nd proviso to section 32(1).
i) if the asset is acquired and used for 180 days or more depreciate at full rate.
ii) if less than 180 days depreciate at 1/2 the rate.
For details please refer 2nd proviso to section 32(1).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- RCM on GTA Services
- REVENUE RECOGNITION AS PER IND AS 115
- Audit of F and O T/O
- GST 9- Table 8
- Regarding Appointment of auditor in case of casual vacancy
- How to update Transaction data in broker samco account holding after transfer shares KARVY
- For sale of shares of a private limited company, what is process cost and time for demat of shares
- Mismatch of Sales Invoice in GSTR-1
- Which SAC code should be ed?
- Inverted Tax Structure & Unutilized ITC on Services
- Conversion of Proprietorship Firm to Partnership Firm
- New change in GST rate
- Regarding Advance ITT and Advance ICITSS
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
Trending Online Classes
CAclubindia
