Deprecitation
This query is : Resolved
19 April 2010
HI ALL...
I HAVE QUERY RELATING TO DEPRECITATION. CAN I CLAIM 50% DEPRECITION ON MY CAR PURCHASED IN 2009-2010.
THANKS ALL.
PLS REPLY
I HAVE QUERY RELATING TO DEPRECITATION. CAN I CLAIM 50% DEPRECITION ON MY CAR PURCHASED IN 2009-2010.
THANKS ALL.
PLS REPLY
19 April 2010
as per it act if you purchase car on or before 30th sep. then Rate of Dep. is 15% otherwise 7.5%
20 April 2010
I will like to rectify the same. 50% of the 15% will be applicable only if the assets purchased have been put to use for a period of less than 180 days. So if the asset is put to use after 26th September, deprectaion will be calculated @ 7.5%
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