Depreciation whether to be allowed on the purchase and installation of a fire extinguisher by a practicing CS in his office, even when the same is not put to use or used during the year of acquisition as stipulated under section 32 the Income-tax Act, 1961:

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Question:Depreciation whether to be allowed on the purchase and installation of a fire extinguisher by a practicing CS in his office, even when the same is not put to use or used during the year of acquisition as stipulated under section 32 the Income-tax Act, 1961:

1.No, Failure to use for the profession or business

2.Yes, Safety measures and kept stand by, treated as passive use and eligible for depreciation

3.Yes, Allowable @ 10% of the cost

4. Yes, Allowable @ 50% of the cost

Posted by R4R Team
  1. Depreciation whether to be allowed on the purchase and installation of a fire extinguisher by a practicing CS in his office, even when the same is not put to use or used during the year of acquisition as stipulated under section 32 the Income-tax Act, 1961:
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