Dep 180 Days rule
This query is : Resolved
28 March 2009
Dear Freinds,
We have purchased & put to use the fixed assets on the following dates:-
1. 28.09.2008
2. 29.09.2008
3. 30.09.2008
4. 01.10.2008
5. 02.10.2008
6. 03.10.2008
Depriciation to be taken 100% or 50% on for assets purchased & put to used on above each date? (considering the 180 days rule)
We have purchased & put to use the fixed assets on the following dates:-
1. 28.09.2008
2. 29.09.2008
3. 30.09.2008
4. 01.10.2008
5. 02.10.2008
6. 03.10.2008
Depriciation to be taken 100% or 50% on for assets purchased & put to used on above each date? (considering the 180 days rule)
28 March 2009
All the assets which are used for 180days or more, 100% dep. will be allowed on the same.
As above in your case, if all the assets put to use on the same day then 100% dep. will be allowed except on the last addition.
As above in your case, if all the assets put to use on the same day then 100% dep. will be allowed except on the last addition.
28 March 2009
every asset will be charged at 100%
and if asset purchased and put to use on or after 4th October will be charged at 50%
and if asset purchased and put to use on or after 4th October will be charged at 50%
28 March 2009
100% in all the cases
28 March 2009
APR 30
MAY 31
JUN 30
JUL 31
AUG 31
SEPT 30
OCT 31
NOV 30
DEC 31
JAN 31
FEB 28
MAR 31
365
ACCORDING TO THIS F Y 2008-09 IF WE CALCULATE EXACT DAYS, 180 DAYS WILL BE STARTED FROM 3RD OCTOBER, SO IN MY OPENION ASSET PURCHASED ON OR AFTER 3RD OCTOBER SHOULD BE ELIGIBLE FOR 50% DEPRICIATION.
PLEASE CORRECT ME.......
MAY 31
JUN 30
JUL 31
AUG 31
SEPT 30
OCT 31
NOV 30
DEC 31
JAN 31
FEB 28
MAR 31
365
ACCORDING TO THIS F Y 2008-09 IF WE CALCULATE EXACT DAYS, 180 DAYS WILL BE STARTED FROM 3RD OCTOBER, SO IN MY OPENION ASSET PURCHASED ON OR AFTER 3RD OCTOBER SHOULD BE ELIGIBLE FOR 50% DEPRICIATION.
PLEASE CORRECT ME.......
28 March 2009
Yes & I Co,pletely agree with CA Tilak Raj Sharma
Yes & I Co,pletely agree with CA Tilak Raj Sharma
29 March 2009
I am sorry for being rude! But why at all should such silly questions be raised in the forum? Cannot one, count the number of days an asset has been put to use, by himself? Does someone want an assistance in this regard? Lets not misuse this forum by posing questions just for the heck of it! I once again feel sorry for having had to reply in this manner.
29 March 2009
Mr. Ravi Shanker,
u want to say that we are r fool? right?
For u this question may silly but for others it is not.
Many persons we may see taking 50% depriciation for the Assets purchased after 30th September.
Also u can see diffrent answers for the single query raised.
U dont reply if u feel like this , but pls dont teach others, how to work.
This is the forum by which we can increase our knowledge, so we should do this only.
u want to say that we are r fool? right?
For u this question may silly but for others it is not.
Many persons we may see taking 50% depriciation for the Assets purchased after 30th September.
Also u can see diffrent answers for the single query raised.
U dont reply if u feel like this , but pls dont teach others, how to work.
This is the forum by which we can increase our knowledge, so we should do this only.
29 March 2009
Dear Jayesh
the assets purchased on or after 4th Oct will be eligible for 50% dep.
In your question all the assets are eligible for 100% dep as it is put use on or before 03.10.
the assets purchased on or after 4th Oct will be eligible for 50% dep.
In your question all the assets are eligible for 100% dep as it is put use on or before 03.10.
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