Date to be considered for depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 August 2013
Purchase of Car
Date : 31.12.2012, Amount : 1,10,000/-
Capitalized Expenditure (RTO & Other)
Date : 15.01.2013, Amount : 35,000/-
What will be the date for calculation depreciation as per companies act on both? will it be different or on both it will be from date of purchasing car.
Date : 31.12.2012, Amount : 1,10,000/-
Capitalized Expenditure (RTO & Other)
Date : 15.01.2013, Amount : 35,000/-
What will be the date for calculation depreciation as per companies act on both? will it be different or on both it will be from date of purchasing car.
Ganeshbabu K
(Expert)
25 August 2013
1)date of capitalization is from the date from which asset is used by company,,if company started using car in 31.12.2012 it can be capitalized on 31.12.2012
35000 can be capitalized from 15.01.2013
depreciation caluculated on no. of days in use
35000 can be capitalized from 15.01.2013
depreciation caluculated on no. of days in use
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Advances to related party
- Capital gains in IT returns
- Form 144 TDS Return Validation error
- LLP audit and disclosure
- TDS- 2026-27 Q1 Correction
- Rent agreement of House of deceased person
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
