20 July 2009
let say opening wdv of an asset is 10000/- depreciation as per it act rs 1000/- out of which 500/- rs of depreciation is disallowed bcoz of personal use than what will be the opening wdv of an asset in next year as per income tax and what will be allowable depreciation in next yaer. assume depreciation rate is 10% on wdv. is there any impact of section 43 (6) on the above?
20 July 2009
In books depreciation is entered full i.e 10%. Disallowance of depreciation due to personal use in computation of income not in books. Hence Wdv for next year will be 9000/-
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