Claiming the depreciation on pc and laptop.

TDS 1234 views 2 replies

Divk

designer

46 Points Joined November 2009

I've been filing my IT return for the last 5-6yrs but I forgot to claim depreciation on my desktop PC. Book value of the PC is Rs.25,000.

a) Can I claim depreciation for the year ending 31st March 2014?

b) If yes, what will be the rate?

I purchased a laptop in Jan'14 worth Rs.35,000.

c) Can I claim depreciation for the year ending 31st March'14?

d) If yes, what will be the rate?

e) If not, then what will be the rate for 1st April'14 to 31st March'15?

Thanks!

Replies (2)

Mouli

Articleship

55 Points Joined October 2013

You can claim depreciation for the last five years as a Prior Period Expenses. Rate of depreciation is 60%.

For the newly purchased asset also you can claim depreciation for the year ending 31st march 2014.In this case asset used for less than 180 days, you are eligible to claim only 50% of allowable depreciation as per income tax act.

35000*60%*1/2=10500.

I'm not sure about this ,you can wait for others replies

Raj Kumar

98 Points Joined June 2014

For query 1 - Specify the A.Y. for which you forgot to claim dep., then I can able to direct you

For query 2 - Provision stated by Mouli is correct but calculation is incorrect.

Mouli has taken value of asset Rs. 30000/-, it should be 35000*60%*50% = Rs 10500/-

Hope you two are satisfied

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