Depreciation
This query is : Resolved
21 April 2012
how depreciation will be calculated on scooter in the case of:
W.D.V on 01.04.2011 - Rs.19314 and it is sold on
18.02.2012 in Rs.19314 and a new scooter purchased on 18.02.2012 in Rs.50800 in proprietorship concern.
Kindly give me solutions
W.D.V on 01.04.2011 - Rs.19314 and it is sold on
18.02.2012 in Rs.19314 and a new scooter purchased on 18.02.2012 in Rs.50800 in proprietorship concern.
Kindly give me solutions
11 May 2012
1. Companies Act
Depreciation on Rs. 19,314 for 324 days
Depreciation on Rs. 50,800 for 43 days.
2. Income Tax Act
Only depreciation on Rs. 50,800 shall be allowed and that too at 50% of the rate.
Depreciation on Rs. 19,314 for 324 days
Depreciation on Rs. 50,800 for 43 days.
2. Income Tax Act
Only depreciation on Rs. 50,800 shall be allowed and that too at 50% of the rate.
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