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Depretetion

This query is : Resolved 
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(Querist)
24 November 2011 Dear sir\Mam,
May I know according to income tax act how many days are there in to charge the fully deprecation and half deprecation. Give one small example.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
25 November 2011 If the asset is put into use for the purpose of the business / profession for a period of less than 180 days, depreciation will be allowed at 50% of the normal allowable depreciation. Pl see 2nd proviso to section 32 (1) of the IT Act,1961.
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Ravindra Srinivasa

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Ravindra Srinivasa (Expert)
25 November 2011 If the asset is purchased before 30th September of that financial year, that asset is eligible for 100% depreciation rate. The asssets purchased after 30th September of the financial year is eligible for 50% of the rate of the depreciation.
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ca cs shriyans jain

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ca cs shriyans jain (Expert)
26 November 2011 But for subsequent years depreciation, even if an asset is used for single day eligible for full depreciation.
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