sambhaji shatawaji (28 Points)
11 November 2021
swati
(Unemployed)
(300 Points)
Replied 11 November 2021
Yes. But depreciation benefit will be available only when asset is purchased and recorded in books. For remaining life of asset.
Eg if you record assest in 2nd year for 5 year life of asset, you will get benefit of claiming depreciation for 4 years only and not for 5 years
swati
(Unemployed)
(300 Points)
Replied 11 November 2021
Yes. But depreciation benefit will be available only when asset is purchased and recorded in books. For remaining life of asset.
Eg if you record assest in 2nd year for 5 year life of asset, you will get benefit of claiming depreciation for 4 years only and not for 5 years
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 12 November 2021
CAclubindia
