ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Claiming deduction on asset

bsai partish (166 Points)

24 September 2021  
A and B are owners of asset having equal share . B is not using that asset and A is only using that.
Can A claim full depreciation or only 50%?

 1 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)   (2905 Points)
Replied 24 September 2021

You can claim 100 % depreciation. The monetary value of an asset decreases over time due to use, wear and tear or obsolescence. This decrease is measured as depreciation. Machinery, equipment, currency are some examples of assets that are likely to depreciate over a specific period of time.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  





Subscribe to the latest topics :
Search Forum:

Trending Tags