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DEPRECIATION ON LOSS OF ASSET

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22 June 2023 WHAT TREATMENT OF DEPRECIATION SHOULD BE MADE IN CASE OF LOSS OF TRUCK DURING YEAR-2022-23 IF THE TRUCK WAS PURCHASED IN YEAR-2018-19 ?
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RAJA P M

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RAJA P M (Expert)
22 June 2023 Provide the depreciation as per year end. Balance amount to be loss account
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
20 August 2023 Where an asset acquired during the previous year and is put to use for the purpose of business or profession for a period of less than 180 days in that previous year, depreciation allowance shall be restricted to 50% of the amount calculated at prescribed rates
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