Question

depreciation is calculated from the date of​

Answer 1

DEPRECIATION IS CHARGED FROM THE DATE WHEN THE ASSET IS FIRSTY PUT TO USE . SO IN YOUR CASE DEPRECIATION WILL BE CHARGED AS PER INCOME TAX FROM 1ST AUGUST BECAUSE THIS IS THE DATE WHEN THE MACHINE IS PUT TO USE . Depreciation will be charged from the date when it is first put to use.

Answer 2

Answer:

The expense is recognized and reported when the asset is placed into use and is calculated for each accounting period and reported under Accumulated Depreciation on the balance sheet and Depreciation Expense on the income statement. The amount reduces both the asset's value and the accounting period's income.