computation
This query is : Resolved
06 November 2008
Dear Sir
i prepare my following statement
Income from Business Net Profit as per income & exp a/c (on hire charges receipts for excavator vehicle Rs.98,685/-
income from other sources Rs.1,56,656
less:- Depreciation cost value Rs 2081682/- on 4.7.07@ 15% (W.D.W 312252/=.1/2) Rs.156126 ---------- 99214 ------- This Statement is Correct or Wrong
please kindly give a guidlines
Thank you
i prepare my following statement
Income from Business Net Profit as per income & exp a/c (on hire charges receipts for excavator vehicle Rs.98,685/-
income from other sources Rs.1,56,656
less:- Depreciation cost value Rs 2081682/- on 4.7.07@ 15% (W.D.W 312252/=.1/2) Rs.156126 ---------- 99214 ------- This Statement is Correct or Wrong
please kindly give a guidlines
Thank you
07 November 2008
Depreciation if it is on equipment relating to business it has to be charged against business income.
Secondly why 1/2?
Secondly why 1/2?
07 November 2008
Thank you your honorable information sir
but 1/2 means off percentage because it is 180 days from date of purchase
actually excavator ( road work vehicle) liable to 15% depreciation ?
but 1/2 means off percentage because it is 180 days from date of purchase
actually excavator ( road work vehicle) liable to 15% depreciation ?
07 November 2008
If the equipment was purchased on 4th July, it is eligible for full depreciation and not half.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Rental income gst and it purpose
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Gift Received from nonblood relative
- Management System (IMS)
- Putting a heading on received mail
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
