Depreciation on block of assets
This query is : Resolved
11 August 2016
Dear Sir,
I have Motor cycle opening Balance as on 1-4-2015 Rs. 20056. I have sold this motor cycle on 21-12-2015 Rs. 9500/- and purchased new motor cycle on 21-12-2015 for Rs. 50500/-. can any one tell me what is the depreciation amount as per income tax act, 1961?
I have Motor cycle opening Balance as on 1-4-2015 Rs. 20056. I have sold this motor cycle on 21-12-2015 Rs. 9500/- and purchased new motor cycle on 21-12-2015 for Rs. 50500/-. can any one tell me what is the depreciation amount as per income tax act, 1961?
11 August 2016
As per Income Tax Act, depreciation will be Rs. 9158 i.e. 15% on 61056 (Opening + Purchase - Sale Amount)
12 August 2016
but sir, new assets purchased is used for less than 182 days.
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
- Notice from IT DEPTT IF FD AMOUNT EXCEEDS 10 LACS
- Unable to generate and save json file for updated return
- GST payable under RCM
- Applicablity on tds
- Audit of F and O T/O
- WRONGLY UPLOADED 10IF FOR COOPERATIVE SOCIETY
- GSTR9- ITC
- Which SAC code should be selected??
- Regarding TDS not deducted on rent
- Tax audit & Switching from Presumptive taxation
- Import purchase entry
- Rule 54(1A) for Distributing ITC
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
Trending Online Classes
-
LIVE Course on GSTR-9 & GSTR-9C (Technical | Practical | Concept - Based)
Sachin Jain03 November 2025
CAclubindia
