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Querist : Anonymous

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Querist : Anonymous (Querist)
03 October 2011 if asset purchased on 3 oct 2011,is full dep allowed?
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vignesh

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vignesh (Expert)
03 October 2011 Dear Sir/Madam,

If the asset purchased after September 30th the rate of depreciation will be half on the original cost.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
04 October 2011 If the asset is purchased on 3rd October, it can be effectively put into use only for 179 days. Being used for less than 180 days, depreciation at full rate can't be claimed.
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