Which is the correct computation of the depreciation amount for a furniture item?
1. Original Purchase Value of the furniture item * 10%
2. Written Down Value (WDV) of the furniture item after deducting depreciation on previous ITR * 10%
Menu
Computing Depreciation Amount
Replies (2)
As per Section 32 of Income tax act, it is compulsory to compute depreciation on WDV value. Therefore, consider the 2nd point.
Depreciation calculated 10% on depreciated value
Recent Topics :
- In ITR 4 u/s 44ADA what amount we shoud show under
- Salary expenses how to treat
- Pos related issue
- Gift of unlisted shares to friend upon marriage
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
- Free CA Foundation Study Material - PYQs with Sugg
- INCOME TAX
Related Topics :
CAclubindia
