Depreciation

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Querist : Anonymous

Querist : Anonymous (Querist)

21 June 2014 If i purchase an machinery as on 31/3/14,can i claim depreciation for the F.Y 2013-14 @7.5%??

CA UMESH DULAL

CA UMESH DULAL (Expert)
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21 June 2014 Yes, if it is put to use in that day.

Rupesh Jain

Rupesh Jain (Expert)
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21 June 2014 you can claim depreciation under the income tax act or under company act if machinery in use on 31.3.2014. other wise not allowed. under income tax you can claim 50% of depreciation rate( 50% of @ 15%). and as company act according to days machinery used by you.

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