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Depreciation on car

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Querist : Anonymous

Querist : Anonymous (Querist)

14 July 2014 Assesee has car wdv is 45000 but he sold it for 85000 as on 1 june 2013 and he purchased another car worth rs 700000 as on 12 june 2013 what will be the depreciation for income tax purpose

Vishnu Saboo

Vishnu Saboo (Expert)
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15 July 2014 40000 is ur profit on sale of FA.
for new car you charge normal dep for period.

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bhagwat Indore

bhagwat Indore (Querist)
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09 July 2016 for IT 85000-45000 is depreciation

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