Hello,
From current AY, the depreciation slabs have been changed and 40% is the maximum allowed now.
Previously till last year, we had computers at 60%. Suppose a new computer purchased last year and accounted at 60% in last years ITR, for the current year, will it continue at 60% or get reduced to 40%?
-----
Also, is the provision for 100% depreciation allowance under section 32 for any capital purchase below Rs 5000 done away with now?
I cannot find that section in the act anymore.
So we should account capital purchases below Rs 5000 in the slabs as well?
Kindly clarify the same
Thank you.
CAclubindia
