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depreciation

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(Querist)
01 December 2016 A client of ours has exchanged a car for rs 361645 on 11.9.2015 and purchased a new car on the same date for Rs 862242. How should depreciation be charged?
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
06 December 2016 As per income tax for old car no depreciation for FY 15-16 For new car depreciation at full rate (i.e. 15%) if asset used for more than 180 day for FY 15-16
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