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
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
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.
.
In accounts; you may charge full depreciation because for disallowance of the depreciation; the computation will take care thereof.
.
In accounts; you may charge full depreciation because for disallowance of the depreciation; the computation will take care thereof.
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