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Maximum value of 100% depreciation

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(Querist)
18 July 2011 Dear all,

Please resolve my query,


value of the assset purchased during the year, if less than Rs 5000/- can claim 100% depreciation.(according to Co., Act)

Am i correct,

Is there any raise in such maximum amount of asset value.


Thanks in advance
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
18 July 2011 it depends upon the companies accounting policy & if the same practice is followed regularly... its absolutely allowed.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
18 July 2011 Yes. As per Companies act assets purchase below Rs.5000 can be taken 100% depreciation

No change on that limit
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