180 days means

The I. Tax Act provides that assets should be put to use for more than 180 days to claim full depreciation. So point is 180 days not six months or half year.

If asset is put to use on or after 4th october then you end up in using the asset for a period less than 180 days. 

If asset is put to use on or before 3rd October then you would have used it 180 days or more

In case of leap year even asset put to use on 4th october will be used for 180 days.

IF YOU TAKE 30TH SEPT AS THE CUT-OFF DATE, THE INCOME TAX ASSESSING OFFICER WILL NOT HAVE ANY PROBLEM. HE WOULD BE THE 1ST PERSON TO ACCEPT IT, AS YOU WOULD BE CLAIMING LESS DEPRECIATION TO THAT EXTENT. IN OTHER WORDS YOU WOULD BE PROVIDING 50% DEP. ON ASSETS PURCHASED BETWEEN 1ST TO 3RD OCTOBER, WEREAS YOU COULD HAVE CLAIMED 100% LEGALLY. CONSEQUENTLY OVER-STATING YOUR INCOME TO THAT EFFECT AND PAYING TAX  THEREUPON AND  THEREBY PUTTING YOUR CLIENT AT LOSS.

totally agree with above one ...

as 180 days taking from date of purchase ....

Dear Friends

As per IT Act, 1961 it means if Assets purchased and Put to use on or before SEPTEMBER 30 then u can claim full depreciation

if its after September 30 let say from OCTOBER 01 then its half.

For More Clarification you can see your self ITR 4 and go in part of depreciation its clearly written Assets acquired upto Sep 30 and After Sep 30 or on Oct 01 and latter on.

So its September 30 only

Regards

Dear Nitin

Check it out again. Both ITR 4 &  ITR 6, under  Depreciation Schedule -  it is clearly mentioned

Additions for a period of 180 days or more in the previous year and

Additions for a period of less than 180 days in the previous year

Dear Friends

180 days for claimming exemption for put to use also...

AS PER INCOME TAX ACT, 1961

IF AN ASSET IS PUT TO USE FOR 180 DAYS OR MORE THEN  FULL DEPRECIATION WILL BE CLAIMED i.e., upto 30th September.

IF AN ASSET IS PUT TO USE FOR LESS THAN180 DAYS THEN HALF DEPRECIATION WILL BE CLAIMED

Originally posted by : Rachit
	The I. Tax Act provides that assets should be put to use for more than 180 days to claim full depreciation. So point is 180 days not six months or half year. If asset is put to use on or after 4th october then you end up in using the asset for a period less than 180 days.  If asset is put to use on or before 3rd October then you would have used it 180 days or more In case of leap year even asset put to use on 4th october will be used for 180 days. IF YOU TAKE 30TH SEPT AS THE CUT-OFF DATE, THE INCOME TAX ASSESSING OFFICER WILL NOT HAVE ANY PROBLEM. HE WOULD BE THE 1ST PERSON TO ACCEPT IT, AS YOU WOULD BE CLAIMING LESS DEPRECIATION TO THAT EXTENT. IN OTHER WORDS YOU WOULD BE PROVIDING 50% DEP. ON ASSETS PURCHASED BETWEEN 1ST TO 3RD OCTOBER, WEREAS YOU COULD HAVE CLAIMED 100% LEGALLY. CONSEQUENTLY OVER-STATING YOUR INCOME TO THAT EFFECT AND PAYING TAX  THEREUPON AND  THEREBY PUTTING YOUR CLIENT AT LOSS.

 According to me this is the perfect answer.