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Depreciation in books and ITR-3

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Sandeep Jain

Sandeep Jain (Querist)
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14 May 2025 Sir,

In books of Account we have Fixed Assets balance Rs.144000/- ( Air Conditioner 34500/- Car 85600/- and Machinery Rs.23900/-) We have Sale Car Rs.94400/- and pass the entry in books of Acccount . Cr. Car Rs.85600/-Cr. Profit from Fixed Assets Rs.8800/- Dr. bank Account. Rs 94400/-

Please suggest about In ITR-3 Deprecation Seclude i have to Reduce Value of Rs.85600/- Correct or Wrong. If i reduce Rs.94400/- it will also reduce Ac and Machinery Cost.
so please suggest 85600/- OR 94400/-

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 May 2025 Reduce 94400, sale price will be reduced under block of assets under income tax.

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