A vehicle sold this year which w
as purchased in 2016 no depreciation charged on that in books till date so should depreciation be charged on that now for the purpose of calculating profit or loss. what is the treatment of this in books. thanks
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Depreciation on vehicle sold
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if held for disposal, no need to charge depreciation for that period.
2016- starting of Held for disposal period-> depreciate
Start of held for disposal period- disposed-> no depreciation
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