Depreciation
This query is : Resolved
16 December 2010
How to calculate depreciation as per IT ACT in this situation
One of the client purchased Vehicle after 1st Nov 2010 and sold it before 31st mar 2010 and both purchase and sale transactions through cash for Rs.150000.
there is not profit or loss on such sale
One of the client purchased Vehicle after 1st Nov 2010 and sold it before 31st mar 2010 and both purchase and sale transactions through cash for Rs.150000.
there is not profit or loss on such sale
CA Ayush Agarwal
(Expert)
16 December 2010
First Correct UR Q. It Should Be 31st March 2011.
No Depreciation is Allowed if Physically No Asset Exist on 31st March
No Depreciation is Allowed if Physically No Asset Exist on 31st March
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