sec 32 depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 August 2010
sir,
i have one querry regarding treatment of amount of claim received in current year against machinery purchased in preceeding year : -
machinery purchase on credit in year 2008, (e.g. 100000)
issue debit note against machinery amount in year 2010,(e.g. 20000)
how much WDV will be taken for dep. claiming in section 32 for the f.y. 2009-10 and any other treatment if happened..
i have one querry regarding treatment of amount of claim received in current year against machinery purchased in preceeding year : -
machinery purchase on credit in year 2008, (e.g. 100000)
issue debit note against machinery amount in year 2010,(e.g. 20000)
how much WDV will be taken for dep. claiming in section 32 for the f.y. 2009-10 and any other treatment if happened..
12 August 2010
In current year 2010, you can adjust gross value and wdv by Rs.20000/- and claim depreciation on net amount.
or
Second, you can take it as misll income like discount recd , and claim depreciation on current wdv as it.
or
Second, you can take it as misll income like discount recd , and claim depreciation on current wdv as it.
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