Actual cost u/s43(1)
This query is : Resolved
17 November 2013
What would be the actual cost of a two wheeler held by a assessee ,when it is subsequently brought into business?
Will the Notional Depreciation as applicable to building for calculating Actual cost U/s 43(1) be applicable here also? IF not what will be the Amount at which the Two wheeler can be accounted in the books of accounts?
Will the Notional Depreciation as applicable to building for calculating Actual cost U/s 43(1) be applicable here also? IF not what will be the Amount at which the Two wheeler can be accounted in the books of accounts?
17 November 2013
COST LESS DEPRECIATION AS PER I T ACT
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