Depreciation
This query is : Resolved
26 November 2014
1.AS PER ROC SCOOTER VALUE IN GROSS BLOCK-57500 AT THE YEAR ENDED 31.03.2014
2.DEP UP TO 31.03.2014 IS 48122.25
3.SOLD IN 16.04.2014 OF RS.6000
QUESTION-WHAT IS THE DEPRECIATION VALUE AS PER CO.ACT & IT ACT
2.DEP UP TO 31.03.2014 IS 48122.25
3.SOLD IN 16.04.2014 OF RS.6000
QUESTION-WHAT IS THE DEPRECIATION VALUE AS PER CO.ACT & IT ACT
26 November 2014
The depreciation as per the Companies Act is the one you mentioned in the query.
For Income Tax depreciation, compute the yearwise depreciation as per the prevailing rates. For 2013-14, the rate is 15%.
(vehicles running on hire have separate rate)
For Income Tax depreciation, compute the yearwise depreciation as per the prevailing rates. For 2013-14, the rate is 15%.
(vehicles running on hire have separate rate)
26 November 2014
as per company act depreciation till u use the vehicle claim in P/L .
but under the income tax act you have to deduct the sale value from the block of assets and then bal. asets and block assets is available then you can claim the depreciation. other wise it consider as short term capital loss.
but under the income tax act you have to deduct the sale value from the block of assets and then bal. asets and block assets is available then you can claim the depreciation. other wise it consider as short term capital loss.
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
- Transport service POS
- To Whom the Invoice should be Raise to
- GSTR 9C- Table 9
- E INVOICE, E-WAY, INVOICE
- INCOME TAX NOTICE QUESTION
- PLACE OF SUPPLY FOR COMMISSION AGENT
- Form 104 stamp paper deed
- Capital gain on sale of resident house by non-resident Indian
- Query Regarding Error in Establishing Connection with Traces WebSocket eSigner
- Sale Proceed of Urban Agri. Land received in Advance in FY 24-25 but Registry is made in next year
- Distinct person & regular person POS
- TDS- late filing - U/s.234E
- Assessee have two pan cards.unable to answer the reassessment proceedings due to non linking aadhar
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
Trending Online Classes
-
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)
Industry Expert16 November 2025
CAclubindia
