11 December 2009
Under IT if cost of asset is met by some person or authority then cost of asset should be reduced to that extent. In your case since entire cost is met by someone else cost of laptop/machinery should be taken as NIL. Hence no depreciation
11 December 2009
No Depriciation, If there is no transation of money or any thing u buy..for your work or Prof.... gift item is like a free thing so no benefit of dep.
CAclubindia
