Desktop on depreciation or expenses

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59 Points Posted on 03 December 2020
I had purchased desktop for business purpose can I claim depreciation
whether it's expenses or capitalization
if it's capitalization and what rate depreciation applicable
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On 03 December 2020 at 19:09 Report
Replies (4)
Quick Summary
This discussion clarifies the tax treatment of a desktop purchased for business use. It confirms that a desktop is considered a business asset and therefore eligible for depreciation. The applicable depreciation rate is established as 40% for Assessment Year 2018-19 onwards, correcting an earlier suggestion of 60%.

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574 Points Posted on 03 December 2020
Desktop is a asset and you should have to claim depreciation for this asset ay a rate of 60%.
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On 03 December 2020 at 21:11
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Accountant
3662 Points Posted on 04 December 2020
Depreciation rate is 40%
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On 04 December 2020 at 00:18
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12244 Points Posted on 04 December 2020
It has to be capitalized... depreciation rate is 40%
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On 04 December 2020 at 02:57
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574 Points Posted on 04 December 2020
Depreciation rate will be 40%( AY 2018-19  onwards)
Wrongly I said 60% in my previous reply , I am sorry for that.
1 Reply
On 04 December 2020 at 12:48

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