depriciation - QUERRY
This query is : Resolved
01 December 2008
income tax rules allows 100 % depricition on temporary structure and also in case of assets of Rs. 5000/- or less. If the assets is held for less than 180 days than what would be rate of depriciation whether 50 % (50% of 100 %) or 100 %
Sanjeev - 9811274429 - vibcondelhi@indiatimes.com
Sanjeev - 9811274429 - vibcondelhi@indiatimes.com
01 December 2008
The one u said is of companies act & not incometax act. There is no concept of Rs.5000 & 100% in incometax.
Anywayzzz, for depreciation for income tax, 50% of respective depreciation rate should be taken if less than 180days
Anywayzzz, for depreciation for income tax, 50% of respective depreciation rate should be taken if less than 180days
02 December 2008
I am in agreement with CA. Deepak Agrawal
02 December 2008
Appendix -1 of rule 5 of income tax rules, 1962 contains 100% depreciation rate on purely temporary erections such as wooden structures.
02 December 2008
Sir as you rightly said that the Appendix -1 of rule 5 of income tax rules, 1962 contains 100% depreciation rate on purely temporary erections such as wooden structures. Pl let me know if the temporary erection is for 180 days than will the depreciation will be allowed only for six months or full year.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- ITR 2 Short Term gain & Long term gain
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Query regarding TDS on EPFO Higher Pension Arrears*
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
