under the heat PGBP
if an asset is purchased in last year and put to use in current year than what will be the depreciation treatment , wether full depreciation is charged of half.
and its reason.
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Profit and gain from business or profession
Replies (5)
Quick Summary
Depends upon type of fixed assets
Means for example if it is Machine with general rate of 15% is there
in that case if such machine is purchased in last year ie 19-20 and put to use in 20-21 and also less than 180 days than what will be the depreciation rate 15 or 7.5%
in that case if such machine is purchased in last year ie 19-20 and put to use in 20-21 and also less than 180 days than what will be the depreciation rate 15 or 7.5%
15% depreciation
What is the reason because if it is used for less than 180days then half depreciation shall come right than why full depreciation is taken in this case
Days of use (180) to be considered in first year only..
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