Depreciation calculation as per income tax
This query is : Resolved
15 July 2013
I have question or query regarding the depreciation in the following case :
1) Suppose somebody purchase a Fixed assets for Rs 150000/- in Apr and sold it Jan. How to Calculate the same?
Also if there is loss on sale of Fixed assets what treatment is necessary in ITR Return.
Manesh Waghmare
1) Suppose somebody purchase a Fixed assets for Rs 150000/- in Apr and sold it Jan. How to Calculate the same?
Also if there is loss on sale of Fixed assets what treatment is necessary in ITR Return.
Manesh Waghmare
15 July 2013
from date of purchase in april eg 1/4/2012 till the date of sale in jan say 1.1.2013 u need to calculate dep frm 1.4.2012 till 1.1.2013 bth days inclusive
1,50,000*276/365* rate of dep.
1,50,000*276/365* rate of dep.
15 July 2013
Dear Sir,
Thanks for the same. But what about the treatment in Income Tax Return (if possible by Schedule).
Thanks for the same. But what about the treatment in Income Tax Return (if possible by Schedule).
15 July 2013
u need to fill schedule where they are asking for depreciation.fill that col.
18 July 2013
Need your cell no for more discussion.
06 June 2014
Thanks for valuable guidance.
12 March 2015
you are welcome manesh................
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- TDS related Query_Liquidated Damages
- Free lancer income
- Last year TDS Claim
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Soyabean hsn code and gst rate
- NON- SUBMISSION OF LLP FORM 3
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
