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Depreciation

19 July 2020

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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3 Replies

Maryam Hasan Meem (Student) (448 Points)
Replied 19 July 2020

In taxation regime, depreciation charge for whole year irrespective of partly used assets.

1 Like

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 19 July 2020

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

Ravi SADhiyan (Practice) (4510 Points)
Replied 21 July 2020

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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