Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 July 2018
Dear Sir/Madam,
A partnership firm was established in the month of February 2018. The only Fixed Assets they are having is Computers and Laptops.
They have nominal profit. What will be treatment for depreciation for the purpose of finalizing financials for IT returns.
Regards,
Abhishek Kumar
A partnership firm was established in the month of February 2018. The only Fixed Assets they are having is Computers and Laptops.
They have nominal profit. What will be treatment for depreciation for the purpose of finalizing financials for IT returns.
Regards,
Abhishek Kumar
28 July 2018
Depreciation is mandatory for IT purpose. Provide in accounts at 1/2 of the rate
since put into use for <180 days.
since put into use for <180 days.
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