Depreciation as per income tax
This query is : Resolved
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
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
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.
for calculation of clg value use-
opening wdv+purchase-sale.
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