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Depreciation (Income Tax)

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This query is : Resolved

Author : Anonymous

( Author )
16 July 2012

 op wdv bal as on 1-4-11 = Rs 1 lakh
(consisting of one motor car)
on 1/3/12 sold motor car for rs 50,000
on 10/3/12 purchased new car for rs 6,00,000
my question is: what is the amount for depreciation?


CMA Ramesh Krishnan

( Expert )
16 July 2012

 what is the depreciation rate?


CA PARAS BAFNA

( Expert )
16 July 2012

 Opening WDV 100000
Addition 600000
Deletion -50000
Balance 650000
Depreciation @ 7.5% on 650000= 48750.


Author : Anonymous

( Author )
20 July 2012

 Thanks alot sir! :)



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