income tax

No, there is no such section.....

u have to take it in 10% block only & write off in 10yrs.

or at end of 9th year u also can show it as capital loss on sale of asset. i.e 10th year depreciation by writing off the figure from asset

There is only option in Income tax  act that Dep on furniture can be claimed @ 10% of value of block on WDV basis. you have to claim depreciation until the value of block ceased to exist or sale consideration exceeds the value of block....  if furniture life is 9 year and no further addition will take place in next 9 years than you can show Capital gain or loss in 9th year.

DEAR DEEPANSHU

YOU CAN

1. CHARGE DEPRICIATION FOR 9 YEARS

2. IN THE NINTH YEAR DISPOSE OFF THE ASSET AND CLAIM SHORT TERM CAPITAL LOSS IF POSSIBLE OTHERWISE U LL BE TAXED FOR LONG TERM CAPITAL GAIN

dear deepanshu in my opinion u should purchase a chair or table.it is therefore sothat your block would be continued and u can claim depreciation on wdv of block. and u can write off your existing furniture. it would be beneficial to you