Depreciation under income tax act

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How to charged depreciton under IT for Motar Cars ? (Opn Bal 200000 Addition on 30/11/2010 Rs.700000 Sale of Motor car in 25/11/2010 Rs.150000

please tell what will be our WDV as on 31/03/2011

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On 03 February 2012 at 13:24 Report
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103 Points Posted on 03 February 2012

As per income tax act Depreciation will be

Op Bal + addition upto 30.09.11 - Sale of asset : Full rate of depriciation 15%

Additions after 30.09.11 - Half rate of depriciation

Hence,,

200000 + 0 - 150000 = 50000 - 7500 = 42500

700000 - 52500 = 647500

Total depreciation - Rs. 60000/-

WDV after depreciation - Rs. 690000/-

 

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On 03 February 2012 at 15:38

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