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IT Depreciation

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(Querist)
30 December 2008 What is the rate of IT depreciation for improvement on assets??? And how it has to be calculated???
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CA Chaitanya

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CA Chaitanya (Expert)
30 December 2008 It depends on what type of asset you have made addition.
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CA Chaitanya

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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.
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CA Chaitanya

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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%.
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CA Chaitanya

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CA Chaitanya (Expert)
30 December 2008 If the improvemnet is in the nature of revenue expenditure you cannot claim depreciation.
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CA Chaitanya

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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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