banner_ad

Income tax depreciation deductions

Tax planning 386 views 1 replies

If an asset is purchased on 01/04/2023 and retired on 31/08/2023.

If income tax depreciation is run for the period 01/04/2023 to 31/03/2024.

how will be deductions considered will it be more than 180 days or less than 180 days.

 

Opening wdv : 50000 

Additions  :30000   

 Same asset retired with sold amount :10000     .

what will be depreciation calculation for more than 180 days.

 

                   

 

Replies (1)

As the asset is not available in the books at year end, depreciation cannot be claimed.

You can book short term capital loss Rs.70,000.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 30 April 2026
Article Assistant

J SINGH & ASSOCIATES

Ahmedabad

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
01 May 2026
Chartered Accountant

Agrawal Jain & Co.

Raipur

CA

View Details