Accelerated depreciation

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..... Accelerated depreciation
Query (Issue) Started By: - seetha lakshmi Dated:- 8-7-2010 Last Reply Date:- 13-7-2010 Income Tax
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Income Tax
Can the school use accelerated rate of d .....

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..... epreciation for some of its assets - computer and accessories as the school replaces them every three years. Traditionally school has adopted the wdv rates as prescribed under Income tax act for all i .....

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..... ts assets. Reply By Rama Krishana: The Reply: No assessee or school can opt for rates of depreciation as per its whims - the rates of depreciation have been provided under the income tax - on computer .....

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..... s it is 60%. Once you go for WDV method of depreciation, there is no question of availing depreciation in equal three installment to setoff in three years. As long as block would exist, you may replac .....

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..... e the assets any number of times, but depreciation can not be limited to three years.
Discussion Forum - Knowledge Sharing .....

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