I have a query regarding Depreciation on fixed assets. There is HUF whose business loss without providing for depreciation is Rs.841978.00. So shall i provide for current year depreciation on fixed assets @ 15% on car? or Shall i Show A loss of Rs.841978. There is also income from other sources of Rs.9592.00. Deprecition to be provided is Rs.843051. Plz reply
Menu
Depreciation
Replies (1)
| Originally posted by : Rajani | ||
 |
I have a query regarding Depreciation on fixed assets. There is HUF whose business loss without providing for depreciation is Rs.841978.00. So shall i provide for current year depreciation on fixed assets @ 15% on car? or Shall i Show A loss of Rs.841978. There is also income from other sources of Rs.9592.00. Deprecition to be provided is Rs.843051. Plz reply |
 |
Yes, you have to provide depreciation also.
Actual business Loss = 841978
add; Depreciation = 15% of value of car
Less: Income from other sources = 9592
then net loss will be available
Recent Topic
- Gift recd from brother
- How to show Loan write off in DPT 3?
- Form 10E and Salary arrear
- LTCG U/S 54F. Sale of property plus sale of share
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
Related Topics
CAclubindia
