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derpreciation rate
depreciation rate on Telephone Modem
Replies (5)
does not fall under the definition of asset
but it's amount is 70000
why ever the value be does not fall under the definition asset...therefore no depreciation....even iphone x costs 120000...but still you can claim no depreciation for it as it does not fall under the definition of asset as per income tax act...
many company claiming depreciation on phone
based on materiality...it varies...
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