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doubt on depreciation
can any one clarify my doubt???
an asset was purchased on 01.04.2008 and get installed on 31.05.2008 but actually put into use from 01.07.2008.depreciation is to be calculated form which date???
a)date of purchase
b)date of installation
c)date of actual put into use
if so why????
Replies (2)
date of actual put to use because Income tax says so and if we think reasonably it is right because wear and tear start from that date
thanks.
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