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derpreciation rate

Praveen Singh (60 Points)

08 August 2018

depreciation rate on Telephone Modem

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Ashwin Kumar (168 Points)
Replied 09 August 2018

does not fall under the definition of asset

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Praveen Singh (60 Points)
Replied 12 August 2018

but it's amount is 70000

Ashwin Kumar (168 Points)
Replied 13 August 2018

why ever the value be does not fall under the definition asset...therefore no depreciation....even iphone x costs 120000...but still you can claim no depreciation for it as it does not fall under the definition of asset as per income tax act...

Praveen Singh (60 Points)
Replied 13 August 2018

many company claiming depreciation on phone

Ashwin Kumar (168 Points)
Replied 13 August 2018

based on materiality...it varies...

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derpreciation rate

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