Dear Sir
please provide deprication rate % of four wheeler and if we have purchased four wheeler in 1 January 2021 so we are eligible for derperication in 3 months or 6 months from october to March
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Deprication
Replies (12)
Quick Summary
If you are asked depreciation under income tax act then you will provide 6 months value...
Sir
4 wheeler value is approximately Rs.20 Lacs
4 wheeler value is approximately Rs.20 Lacs
No problem...
Half of depreciation will be charged as it used for less than 6 months
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Sir,
please advise suppose a person purchased Innova-four Wheeler on 16 Feb 21 for business purposes. He has paid Rs. Eighteen Lac's via RTGS Can he pay balance payment Rs.170000 via cash and can he is eligible to Claim deprecation from 1 October 20 to March 2021
Deprecation % is 15%or 45%
Sir,
please advise suppose a person purchased Innova-four Wheeler on 16 Feb 21 for business purposes. He has paid Rs. Eighteen Lac's via RTGS Can he pay balance payment Rs.170000 via cash and can he is eligible to Claim deprecation from 1 October 20 to March 2021
Deprecation % is 15%or 45%
- Cash payments not allowed...
- depreciation rate for vehicle @ 15%. You can provide depreciation from October as per above query ( 15% / 2 )
- depreciation rate for vehicle @ 15%. You can provide depreciation from October as per above query ( 15% / 2 )
Thank you Very much Sir
He can claim depreciation @ 7.5% on the amount paid via RTGS portion only.
Half of normal 15% depreciation.
I purchased any fixed asset like machinery/car etc, Can I claim for ITC in gst and also depreciation.
I think Yes***
Bcoz, want more details about Your business and it's activities
Bcoz, want more details about Your business and it's activities
Depreciation cannot be claimed on ITC portion.
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