Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 June 2010
ABC is a proprietory concern . motor car used is 50% for business purpose and 50% for personal use. Depreciation allowed as per I.T ACT 1961 will be 7.5% but for the purpose of WDV how much must be deducted from opening WDV 7.5% OR 15%.
14 June 2010
Depreciation will be provided in the books 15%, i.e opening wdv will be after 15%.
Deprecaiton regarding personal use i.e half will be added in your income as personel use and tax will be computed on it.
Deprecaiton regarding personal use i.e half will be added in your income as personel use and tax will be computed on it.
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