| Comments |
| Posted By : Raju |
01-Feb-2013, 11:37:18 |
| the answer depends on the Act under which depreciation is to be computed. Under Income Tax Act, 1961, all items of fixed assets can be depreciated at the rates prescribed for Income Tax Purposes. But, under Companies Act, 1956, 100 % depreciation for each item of asset amounting to Rs. 5,000 or less. |
| |
| Posted By : SANJEEV |
27-Jan-2013, 10:14:34 |
| Rs.5000/= |
| |
| Posted By : Subodh Agarwal |
25-Jan-2013, 01:57:45 |
| Friend,
As per Income Tax act , you cannot w/off any amount.
But as per companies act- you can W/off any assets amount of Rs. 5000 not more than it.
There might be a question arising in your mind that, if asset is purchase in a same year and can be w/off full.
No,it can be w/off in next year.
|
| |
|
|
Answer by: 
