Deprecitation

This query is : Resolved

HARESH (Querist)
Follow

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

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
Follow

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%

HARESH

HARESH (Querist)
Follow

19 April 2010 THANKS

CA. O.P. Agarwalla

CA. O.P. Agarwalla (Expert)
Follow

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%

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Rajat Khandelwal

Choudhary

HITESH NIRANJAN SAHU

Tax Expert Group

N.Chandrasekaran

Subscribe Now

Deprecitation

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Manager- Finance and Compliance

GST CONSULTANCY

Article Assistant

Accountant

GST CONSULTANT