depreciation
This query is : Resolved
Kumaresan Grad CWA
(Querist)
11 July 2009
XYZ Ltd Purchased a P&M On 1/5/2008 and the same was sold on 20/01/2009 (Same financial year). Can XYZ ltd Claim IT depreciation for that P&M?
Pls.Clarify..
Pls.Clarify..
vinod kumar lalwani
(Expert)
11 July 2009
Hello!
Depreciation is available only for those assets of which WDV is showing in balance sheet as on 31st march. if u have sold your assets than u r not eligible for depreciation.
short term capital gain wil be computed in hands of assessee.
Depreciation is available only for those assets of which WDV is showing in balance sheet as on 31st march. if u have sold your assets than u r not eligible for depreciation.
short term capital gain wil be computed in hands of assessee.
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