Depreciation on assets sold


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Querist : Anonymous

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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?

Rupesh Jain (Expert)
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

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Querist : Anonymous

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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.


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