Deprecitation
This query is : Resolved
19 April 2010
HI ALL...
I HAVE QUERY RELATING TO DEPRECITATION. CAN I CLAIM 50% DEPRECITION ON MY CAR PURCHASED IN 2009-2010.
THANKS ALL.
PLS REPLY
I HAVE QUERY RELATING TO DEPRECITATION. CAN I CLAIM 50% DEPRECITION ON MY CAR PURCHASED IN 2009-2010.
THANKS ALL.
PLS REPLY
CA Ashok Kumar Sahu
(Expert)
19 April 2010
as per it act if you purchase car on or before 30th sep. then Rate of Dep. is 15% otherwise 7.5%
CA. O.P. Agarwalla
(Expert)
20 April 2010
I will like to rectify the same. 50% of the 15% will be applicable only if the assets purchased have been put to use for a period of less than 180 days. So if the asset is put to use after 26th September, deprectaion will be calculated @ 7.5%
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