Depreciation on assets sold
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 July 2013
A limited Company sold some assets during the year. and claiming Depreciation on the opening WDV.i.e. without deducting the sale value of assets sold.
is this right?
is this right?
04 July 2013
under company act depreciation will be provide till date of sale assets and
under income tax act depreciation will provide after sale amount of assets deduction in block of assets .
your q. ans is wrong
under income tax act depreciation will provide after sale amount of assets deduction in block of assets .
your q. ans is wrong
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 July 2013
I want to know whether this practice is right according to Income Tax.
during audit i go threw the income tax depreciation chart they provide me.and i got confusion after that.
during audit i go threw the income tax depreciation chart they provide me.and i got confusion after that.
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
- Section 54 f disallowed will be taxed at what rate
- ITR -1 Filing
- TWO FIRM NAME IN ONE GST NUMBER
- Transportation of Petrol, Diesel by GTA and Other than GTA
- Transfer of Rectification Rights to the Jurisdictional Assessing Officer
- Form 16 Issues
- SEA GOING ALLOWANCE
- Trust 10AB form required for old asst. years?
- Which ITR application
- Eway issued more than one
- Igst utilisation query
- Section 12A(1)AC
- Interest will be paid
- CHANGE IN PARTICULARS OF DIRECTOR
- Non- payment of GST on supply of services- reg
- Accumulated surplus exceeding 15%
- Different GST Number MEESHO
- Fees amount transfer procedure for two doctors
- Notice u/s 148 of IT Act
- Credit note for cycle round
Trending Online Classes
CAclubindia
