CA Day celebration 2024 Easy Office
LCI Learning

Depreciation

This query is : Resolved 
Profile Image

Profile Image

(Querist)
10 December 2009 Can we allow depreciation on asset,which is purchased an sold in the same year??
Profile Image

CA. Rishabh Mittal

Profile Image

CA. Rishabh Mittal (Expert)
10 December 2009 As per Income Tax Act - It depends on the Block of Asset Concept. In case no other asset exists in the block, No depreciation shall be chargeable. Rather, Short Term Capital Gain / Loss would be computed.
Profile Image

CA Balram Sharma

Profile Image

CA Balram Sharma (Expert)
10 December 2009 YES AGREE WIH RISHABH
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CA Day celebration 2024 with Tally CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links