depreciation is charged from the date of purchase or date of installation?
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Depreciation
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depreciation is charged from the date of asset was purchased.
as per income tax act , depreciation should be charged from the date , the asset was first put to use
As per the Income Tax Act, 1961 depreciation is allowed only from the date when asset first put to use.
" 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.
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