Last year a plant & Machinery has been purchased and Depreciation Claimed for the financial year 2019-20. In financial year 2020-21 for the first 7 month there is a problem and it hasn't been used . According to law can i claim full depreciation or half depreciation or none??
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Claiming Depreciation ??
Replies (3)
Quick Summary
Written down value method is decline in book value of asset.If plant and machinery is depreciated by WDV then business will get to know exact condition of asset on that particular date. and also business can plan accordingly.
Yes you can claim full depreciation.
the half depreciation is only for the first year when asset was purchased
the half depreciation is only for the first year when asset was purchased
Full depreciation should be claimed
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