depreciation
This query is : Open
01 December 2016
A client of ours has exchanged a car for rs 361645 on 11.9.2015 and purchased a new car on the same date for Rs 862242. How should depreciation be charged?
06 December 2016
As per income tax
for old car no depreciation for FY 15-16
For new car depreciation at full rate (i.e. 15%) if asset used for more than 180 day for FY 15-16
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