Depreciation as per income tax

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Roopesh Nandi (Querist)
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21 August 2013 Pls any one help on in Depreciation calculation as per IT
If 15% asset is purchased on Jan-13 and Sold on Mar- 13 need to calculation Depreciation (7.5%) on this asset as per IT Act..?

I Taken Either LIFO or FIFO Closing Balance is not maching individual asset in Same Block...?

Pls any one Give solution to me Roopesh2speed@gmail.com or 7899937604

CA VISHNU GAVKARE

CA VISHNU GAVKARE (Expert)
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22 August 2013 if asset is sold at loss then on tht part 7.5% shall be allowed. if it is sold at profit nothing to be done.
for calculation of clg value use-
opening wdv+purchase-sale.

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