Depreciation
This query is : Resolved
18 September 2014
If asset is sold after 2nd september then will depreciation be charged on it as per income tax act?
18 September 2014
Deprecitaion will be charged at full rate.
19 September 2014
asset sold on 2nd december 2013. Will depreciation be charged on such asset at half rate or will its value be reduced from the block of assets and depreciation be charged on balance amount?
19 September 2014
Sorry i did not notice the word sold. Yes if the block exist then you have to charge depreciation. Since used for less than 180 days. 50% depreciation can be claimed. For detail provision with illustration see below link--
https://www.indiataxes.com/Information/incometax/contents/pgbp/allowdeductions/specificdud/specific_dud_3.htm
https://www.indiataxes.com/Information/incometax/contents/pgbp/allowdeductions/specificdud/specific_dud_3.htm
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
- Supply through E-commerce Operators
- STCG....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Sales return eway bill
- Relief u/s Section 89
- GST ON DAMAGED GOODS
- Specified Profession
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- STCG on ETF gold & silver
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
