depreciation
This query is : Open
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?
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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