depreciation on sold car
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 October 2010
i sold my car for 100000/- on 1st october cost of car on wdv basis was 275000/- on 1st april.
can i charged depreciation on same for the period and loss can be debited to p&l a/c
can i charged depreciation on same for the period and loss can be debited to p&l a/c
01 October 2010
https://www.caclubindia.com/forum/depreciation-on-sale-of-car-107063.asp
01 October 2010
If @ end of year you have any other asset in the block then depreciation will be allowed on the difference of 175000
If no other asset remained in the block it will amount to short term capital loss
If no other asset remained in the block it will amount to short term capital loss
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