depreciation

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muthu (Querist)
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05 November 2008 New Hydralic Exavator purchases [ on hire purpose ] value Rs.2081682 on 4.7.07 total income arrived at Rs 255341/= for various sources. How to calculate Depreciation and
Income tax computation.

muthu

muthu (Querist)
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05 November 2008 please kindly explain to me

Shyam Lal Naik

Shyam Lal Naik (Expert)
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06 November 2008 Calculation of depreciation does not depend on totak income.

It is assumed that you are talking about depreciation as per income tax act.

The asset being a palnt, the rate of depreciation will be 15%. It having been put to use before 30.09.07, full year deoreciation will be allowed.

Practically, the cost will be added with the WDV of the block of asset as on 01.04.07.

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