Personal assets used for business
This query is : Resolved
CA Ankith Jain
(Querist)
25 June 2018
A personal laptop purchased 3 yrs back is now being used for business, how the depreciation under income tax to be calculated?
Nikhil Kaushik
(Expert)
25 June 2018
you have to bring the asset into books at the depreciated value ie provide for the depreciation for last three years and bring the asset into books at residual WDV.
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