Help
This query is : Resolved
01 May 2014
there is a question regarding depriciation .. that if i purchase an asset n sale d same in d same financial year than tell me if depri as per co. act n i.t. act applicable or not..?
04 May 2014
As per companies act you need to provide depreciation on asset for the nos of days it was used. while as per income tax the asset will be added in the block of asset and at the time of sale it will be deducted from the block of asset. Depri as per income tax is provided on entire block of asset and not on individual asset unlike companies act.
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
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- LTCG for Assmt year 26-27
- What is provisional receipt number for generation of form 16A
- TDS related Query_Liquidated Damages
- Long Term Service award taxability in hands of company
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
