on which date depreciation will charged when date is not specified
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DEPRECIATION IS CHARGED FROM THE DATE WHEN IT WAS FIRSTY READY TO USE . THAT IS 1ST JULY IN YOUR CASE. 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 .
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Depreciation will be charged from the date when it is first put to use. In this case as per Income Tax Act depreciation will be chgd at the rate 15% for the AY 2010-2011 since it is used for more than 182 days. There will be no depreciation for the AY 2009-2010.
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