Depreciation calculation as per income tax

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MANESH WAGHMARE (Querist)
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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

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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.

MANESH WAGHMARE

MANESH WAGHMARE (Querist)
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15 July 2013 Dear Sir,

Thanks for the same. But what about the treatment in Income Tax Return (if possible by Schedule).

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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15 July 2013 u need to fill schedule where they are asking for depreciation.fill that col.

MANESH WAGHMARE

MANESH WAGHMARE (Querist)
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18 July 2013 Need your cell no for more discussion.

MANESH WAGHMARE

MANESH WAGHMARE (Querist)
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06 June 2014 Thanks for valuable guidance.