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Depreciation
as per company act 1956 in case of asset costing less than rs 5000 100% dep can be claimed in the year of purchase .my query is the limit of rs 5000 to be check for each individual item.suppose 10 cctv camera costing rs 4000 purchasd in single bill, in that case will limit of rs 5000 to be check for each individual camera.
Replies (2)
It is on Individual Assets and not on the Block. So for 1 cctv camera u can claim 100% depreciation.
Why we can not claim 100% on remaining cctv.
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