Depreciation Calculation
This query is : Resolved
22 June 2010
If there is any change in the calculation of depreciation where delection applicable cases as per IT Act????
If deletion of assets is deducted either from addition more than six moths or use less than six months???????
Pls help me....
If deletion of assets is deducted either from addition more than six moths or use less than six months???????
Pls help me....
22 June 2010
The act is silent on this issue. No change has been brought in in the Finance Act,2010 as well. However, it is beneficial to follow LIFO method so that the amount of depreciation will be higher.
22 June 2010
As per income tax act, If you sold any asset whether it sold in Feb (11th Month), Still it is deducting opening WDV of asset.
not after 6 month.
not after 6 month.
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