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Depreciation under Schedule XIV

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(Querist)
11 July 2011 Capital Invoice consists of Furniture, Nos.16, amounting to Rs.9,000/-.

Can we take 100% Depreciation in Books?

What about IT Depreciation?

Regards,
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
17 July 2011 yes. it can be taken as 100% depreciation under companies act.

As per income tax act based on the block of assets preferably 10% block

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