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................
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