Depreciation on sale of car
Guest
in case of companies act :-
i will reduce the amount COP from gross block & give the effect of depreciation claimed till date & Selling Price in adjustment column of depreciation block...
wanted to know the effect of same in income tax act
since Selling price is deducted from WDV there is still balance left at the end of year on that car.....should depreciation effect be given on the left over balance for the succeeding years till it gets nill
Opening wdv- 10
Deletion - 2
Closing wdv-8
Guest
Guest
my question is ,even after selling the car my wdv is 8 L than should i claim depreciation on 8 L for the next FY
Guest
can you please quote the section?
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