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    3. Commerce and Accounts
    4. Depreciation
    5. Which asset is not eligible for depreciation under the Income Tax Act?

    Question

    Which asset is not eligible for depreciation under the

    Income Tax Act?
    A Computers Correct Answer Incorrect Answer
    B Furniture Correct Answer Incorrect Answer
    C Land Correct Answer Incorrect Answer
    D Intangible assets Correct Answer Incorrect Answer

    Solution

    Land is not a depreciable asset under IT Act as it has unlimited useful life.

    Practice Next
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