depreciation query

Tax queries 512 views 1 replies

C.A. ANKIT SINGHAL

CA PRACTICE

52 Points Joined January 2009

if an assesse purchase an fixed assets and charge depreciation Upto 2 years and in 3rd year the asset not use in business or any other place, but in 4th year asset use in business, then can assessee claim depreciation in 3rd year on that asset. and if your answer is no, then please tell me the WDV in 4th year?

Replies (1)

CA LOVELY ARORA

C.A. B.Com (H) Graduate

2151 Points Joined August 2008

from my point of view, he would be free to claim depreciation in 3rd as well as 4th year, as depreciation is of mixed nature. It occurs on both event :- by usage, wear and tear and by passage of time.