Depreciation

21 June 2018

depreciation is charged from the date of purchase or date of installation?

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5 Replies

rishikesh N (198 Points)
Replied 21 June 2018

depreciation is charged from the date of asset was purchased.

Krati Agrawal (79 Points)
Replied 21 June 2018

as per income tax act , depreciation should be charged from the date , the asset was first put to use

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Prashant Maheshwari (CA Final ) (46 Points)
Replied 21 June 2018

As per the Income Tax Act, 1961 depreciation is allowed only from the date when asset first put to use.

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Ramarao Gullipalli (Dy.Manager-Finance & Accounts) (99 Points)
Replied 21 June 2018

" from the date when asset first put to use"

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Nimish Parsana (Professional) (56 Points)
Replied 21 June 2018

Dear Hitesh,

As per the Income Tax Act, 1961 depreciation is allowed only from the date when asset first put to use, Mostly in the case of you can prove it.

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