Depriciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 March 2015
Dear Sir,
If i purchase a machine on 10.10.2013 then depriciation will be calculate on day basis or month basis.
If i purchase a machine on 10.10.2013 then depriciation will be calculate on day basis or month basis.
19 March 2015
it will be counted on day to day basis for accounts purpose
Message likes :
1 times
19 March 2015
Depreciation will be calculated from the date when the Asset is put to use. Depreciation will be calculated on days basis under Companies Act 2013.
Under Income Tax act 1961:
# If the asset is used for less than 180 days then 50% of the depreciation is claimable;
# Else if use is 180 days or more then full depreciation claim is allowable.
Under Income Tax act 1961:
# If the asset is used for less than 180 days then 50% of the depreciation is claimable;
# Else if use is 180 days or more then full depreciation claim is allowable.
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