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Depreciation

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23 Points Joined January 2019
If a company is closed by 30 September depreciation of computors to be considered in days upto sep 30 or upto end of the year? Please clarify
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On 19 July 2020 at 09:32 Report
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Student
448 Points Joined October 2017
In taxation regime, depreciation charge for whole year irrespective of partly used assets.
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On 19 July 2020 at 09:41
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Tax and Business Consultant
11616 Points Joined July 2015
As per company act , in books of accounts you can consider depreciation in day basis,
but for income tax purposes its full year depreciation allowed if asset used 180 days or more, half year depreciation if asset used less than 180 days
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On 19 July 2020 at 09:57
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Practice
4510 Points Joined July 2017
Originally posted by : Shama parveen
In taxation regime, depreciation charge for whole year irrespective of partly used assets.

Agree with @ Parveen Advice.

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On 21 July 2020 at 08:39

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