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Depreciation on live stock according to income tax act.

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05 March 2012 how many depreciation on live stock according to income tax act.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
06 March 2012 Depreciation is not allowed on live stock. When the animal dies or permanently becomes useless a deduction is allowed u/s 36(1)(vi).

Deduction is equal to the difference between the actual cost to the assessee of the animals and the amount, if any, realised in respect of the carcasses or animals.
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