Depreciation on fixed assets

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Jayesh (Querist)
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18 August 2011 At what rate depreciation should be charged on Fixed assets of below Rs 5000/- or we can write it off as revenue expense in the year of acquisition itself????

In Both Companies act & income tax point of View...

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 August 2011 As per Companies act assets below Rs.5000 can be depreciated as 100% in the year of purchase it self

Under Income tax, there is not such provision, assets coming under which block the same rate of depreciation need to be provided

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