IT Depreciation
This query is : Resolved
GIRISH KUMAR DUNDLODIA
(Querist)
30 December 2008
What is the rate of IT depreciation for improvement on assets??? And how it has to be calculated???
CA Chaitanya
(Expert)
30 December 2008
It depends on what type of asset you have made addition.
CA Chaitanya
(Expert)
30 December 2008
If it is building, you can claim depreciation @ 10% if the asset is put to use for 180 days or more.
CA Chaitanya
(Expert)
30 December 2008
If it is put to use for less than 180 days then you can claim 50% of the normal rate of depreciation i.e 5%.
CA Chaitanya
(Expert)
30 December 2008
If the improvemnet is in the nature of revenue expenditure you cannot claim depreciation.
CA Chaitanya
(Expert)
30 December 2008
In such a case you can claim it as an expenditure for repairs and maintanance.
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