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Deprecitation

This query is : Resolved 
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(Querist)
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
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
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%
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HARESH

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HARESH (Querist)
19 April 2010 THANKS
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CA. O.P. Agarwalla

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CA. O.P. Agarwalla (Expert)
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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