Depriciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2013 Dear sir,

as per my query that i used my car in bussiness & personal both so i want to ask that how to depreciated it and how to pass the adjustment entry in books and also know that which percentage is deducted from profit & loss A/c and Computation of Income tax when car is used business & Personally both. Please reply soon

Thanks & Regrads,
Shiv

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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14 July 2013 First of decide the percentage use of car for the business and accordingly calculate depreciation for Income Tax Purpose in the computation of Income.
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In accounts; you may charge full depreciation because for disallowance of the depreciation; the computation will take care thereof.

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