Depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2012 Dear sirs

one of my client has only one car in the block as on 31 mar'2011.WDV of car was rs 173000/-as on 01/04.2011 .A new car was purchased in Feb'2012 for rs 470000.the car was purchased under an exchange offer for old car.the exchange price for old car was 75000/-.pl tell how much depreciation will be charged on 31/3/2012

thanx in advance

CA CKP

CA CKP (Expert)
Follow

21 July 2012 WDV as on 1-4-11 Rs 173000
Less: Sale in Feb'12 Rs. 75000
Add: Addition Feb'12 Rs.470000
-----------
Rs.568000 Depreciation@7.5% of Rs.470000 Rs. 35250
& @15% on Rs.98000 Rs. 14700
------------
TOTAL DEPRECIATION Rs. 49950