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).
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