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Depriciation on asset having value less then rs. 5000/-

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 April 2012 As per co. act depreciation on asset whose actual cost does not exceed RS. 5000 shall be provided depreciation @ 100%. Can anyone tell me that whether I shoul take 100% as rate onle or I can write off whole value of the asset as depreciation.In this case depreciation should be calculated on propostionate day wise or 100% cost amount should be written off. Kindly give suggession
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CA Kishore Tallam

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CA Kishore Tallam (Expert)
09 April 2012 Irrespective of the date of purchase of asset, depreciation to be provided @ 100% of the cost of the asset in the year purchase.
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Querist : Anonymous

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Querist : Anonymous (Querist)
09 April 2012 You mean 100% of cost value not @ 100% with proportionat days
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