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Depreciation

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(Querist)
02 April 2011 If i have sold my car which has regeistered in my company and i have sold in the month of 15.3.2011 shall i get full dereciation on the said car
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
04 April 2011 As per Income tax act,1961, depreciation will not be allowed in the year of sale of an asset. Accordingly, depreciation will not be allowed in financial year 2010-11 for the purpose of income tax calculation.
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