Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 November 2009
which date is relevant for calculation of depreciation - Acquisition date or Installation date or put to use date
05 November 2009
A noncash expense that reduces the value of an asset as a result of wear and tear, age, or obsolescence. Most assets lose their value over time (in other words, they depreciate), and must be replaced once the end of their useful life is reached. There are several accounting methods that are used in order to write off an asset's depreciation cost over the period of its useful life. Because it is a non-cash expense, depreciation( after Installation)
05 November 2009
even if the asset is not used still depreciation is to be provided.
05 November 2009
Ms. Gandhi can u pls. tell me what are the provisions on section 32 of Income Tax Act 1961 regarding depreciation n also thats of in Company Act 1956
05 November 2009
Ms. Gandhi can u pls. tell me what are the provisions on section 32 of Income Tax Act 1961 regarding depreciation n also thats of in Company Act 1956
Guest
Guest
(Expert)
09 November 2009
As Per IT = Put to use
But As per Companies Act one can use
Date of installation.
But As per Companies Act one can use
Date of installation.
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