Allowable depreciation.
Querist : Anonymous
oct 2010 for Rs.5 lacs, the WDV of the same on 01.04.2010 was Rs.410000/- he has purchase the new car in the month of Nov.2010, for Rs.650000/-
In the above circumstances, what will be dep. allowable dep on the new car? and will there by any capital gains on the sale of old car?
Dear experts, pl clarify
Add: Addition Nov 2010 ..............650000
Total...............................1060000 Less: Deletion.......................500000
WDV..................................560000
Depreciation @7.5 on 560000/ can be claimed.
No Capital Gains will arise.
Querist : Anonymous
Click here to login now
Similar Resolved Queries
- Visiting card purchase
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Additional trade name
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Whether output tax is taken credit by purchaser
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
