Depriciation
This query is : Resolved
venkatesh k
(Querist)
21 February 2014
WE HAVE PURCHASED 2ND HAND GOODS CARRIER VEHICLE DURING SEPTEMBER 2013 AND WE WANT TO DISPOSE THE SAME BEFORE MARCH 31 2014 AS ITS MAINTENENCE IS HIGH.
PL CLARRIFY.
1.WE HAD PAID RS.2.5LAKHS FOR THE VEHICLE AND WE MAY GET RS. 2 LAKH MAXIMUM. WHAT IS THE TREATMENT FOR BAL 50000.
2.IF THE VEHICLE IS SOLD BEFORE MARCH 31 CAN I CLAIM DEPRCIATION FOR THE PERIOD SEPTEMBER2013 TO MARCH 2014
PL CLARRIFY.
1.WE HAD PAID RS.2.5LAKHS FOR THE VEHICLE AND WE MAY GET RS. 2 LAKH MAXIMUM. WHAT IS THE TREATMENT FOR BAL 50000.
2.IF THE VEHICLE IS SOLD BEFORE MARCH 31 CAN I CLAIM DEPRCIATION FOR THE PERIOD SEPTEMBER2013 TO MARCH 2014
21 February 2014
find out the WDV on date of sale WDV. depn=Cost-est sale value \no of est years of useful life.
cost - depn =wdv
if wdv > sale value = loss
if wdv < sale value = profit
cost - depn =wdv
if wdv > sale value = loss
if wdv < sale value = profit
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