I want to know about depreciation rate or charges on fixed assets. below condition are applicable. our firm purchase fixed asset on the month of begining of the mar-2018. we charge 1 month depreciation and how we calculate depreciation on machinery computers ac , furniture etc. Please help all concern persons.
17 April 2018
If the assets is less than 180 days we will depreciate 50% of depreciate values.
For Example :
A Asset under 15% slab and it's cost Rs. 1lakh...
We will calculate 100000*15% = 15000/2 = 7500.
We will Depreciate Rs. 7500 for less than 180 days as per income tax act.
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