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Depreciation
If a machine was bought on January 1st,2010 but was erected/installed on September 30th,2010,how depreciation should be charged?Books are closed on December 31st every year.Should depreciation be charged from January i.e.whn machine was purchased or frm September 30 i.e.whn machine was installed?
Replies (2)
As per income tax full dep.is allowed as asset put to use more than 180 days.
As per income tax full dep. is allowed as asset put to use for more than 180 days.
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