RULE3(7)(viii)

Direct Taxation

So as per this dep is on completed yr of usage. Although assets are used for 2yr 9,10,11 months still is it 2yrs itself to calculate depreciated value?

Sugam SM

CA Final

★ 9K+

01-Feb-23 17:40

541

Answers (3)

Can anyone answer me?

Thread Starter

Sugam SM

CA Final

★ 9K+

01-Feb-23 21:27

I am not sure. But I think, we should calculate only for 2 years. Because here Completed years means only 2 years. If it is 3 years and 9 months, we should take 3 years.

Karthick A

CA Final

★ 1K+

01-Feb-23 22:13

if it is given as completed years of service means only completed full years i.e. don't consider those extra months if given as completed years and part thereof means to consider the months after the year hope it's clear

Sowmiya A

CA Inter

★ 19K+

01-Feb-23 22:24