Replacement of asset
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 January 2013
01/04/2010 car purchase 200000/-
Less Depreciation 30000/-
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WDV 170000/-
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On 30/09/2011 New version of car replaced by paying extra 100000/-.How taxation should take place.
Thanks and Regards,
SBK
Less Depreciation 30000/-
-----------
WDV 170000/-
-----------
On 30/09/2011 New version of car replaced by paying extra 100000/-.How taxation should take place.
Thanks and Regards,
SBK
CA PARAS BAFNA
(Expert)
01 January 2013
There will be no tax incidence. However you can add Rs 100000 in Car A/c and charge depreciation on 270000.
.
.
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