depriciation
This query is : Resolved
16 August 2010
dear experts
l have few doubts related to depreciation calculation.pls clarify my doubts. following are
1) if one assetis sold from the block of asset during the year.whether in case of sale 180days applicable or not ?
2)one asset purchased during the year and the same has been sold during that year.how depreciation will be calculated?half rate or full rate?
l have few doubts related to depreciation calculation.pls clarify my doubts. following are
1) if one assetis sold from the block of asset during the year.whether in case of sale 180days applicable or not ?
2)one asset purchased during the year and the same has been sold during that year.how depreciation will be calculated?half rate or full rate?
16 August 2010
In my view answers to your questions are >
1. 180 days are applicable in case, it is used for less than 180 days.
2. If the asset is put to use and date of sale is more than 180 days then, full rate is applicable otherwise, half rate will be applied.
Experts views are solicited....
1. 180 days are applicable in case, it is used for less than 180 days.
2. If the asset is put to use and date of sale is more than 180 days then, full rate is applicable otherwise, half rate will be applied.
Experts views are solicited....
16 August 2010
1. If the asset is sold from a block of asset even in March no depreciation allowable as Depreciation is provided on the WDV as on 31st march only. So the sale value will be reduced from opening WDV for the purpose of calculating Depreeciation.
2. In case of asset purchased before september and sold after september depreciation available at half rate.
2. In case of asset purchased before september and sold after september depreciation available at half rate.
16 August 2010
for example asset sold ( plant & machinery )
on 31-05-2009 Rs. 100000/- out of block of assets.then this machinery used less than 180 days during this PY,this case you are telling half rate is applicable. so 7.5%0.my doubt is this case we are not required to consider the period of use like April to may 09? pls see the calculation and tel me which one is correct.
100000*7.5/100 = 7500/- or
100000*7.5/100*2/12 = 1250
on 31-05-2009 Rs. 100000/- out of block of assets.then this machinery used less than 180 days during this PY,this case you are telling half rate is applicable. so 7.5%0.my doubt is this case we are not required to consider the period of use like April to may 09? pls see the calculation and tel me which one is correct.
100000*7.5/100 = 7500/- or
100000*7.5/100*2/12 = 1250
16 August 2010
in this case : No depreciation is allowed under income tax act.
simply, deduct Rs. 100000/- in the value of that block of asset.
simply, deduct Rs. 100000/- in the value of that block of asset.
16 August 2010
If the asset is sold from the opening block of asset even in March no depreciation allowable as Depreciation is provided on the WDV as on 31st march only. So the sale value will be reduced from opening WDV for the purpose of calculating Depreeciation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
