depreciation is charged from the date of purchase or date of installation?
depreciation is charged from the date of purchase or date of installation?
" from the date when asset first put to use"
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.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
