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DEPRECIATION ON LOSS OF ASSET

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22 June 2023 WHAT TREATMENT OF DEPRECIATION SHOULD BE MADE IN CASE OF LOSS OF TRUCK DURING YEAR-2022-23 IF THE TRUCK WAS PURCHASED IN YEAR-2018-19 ?

22 June 2023 Provide the depreciation as per year end. Balance amount to be loss account

20 August 2023 Where an asset acquired during the previous year and is put to use for the purpose of business or profession for a period of less than 180 days in that previous year, depreciation allowance shall be restricted to 50% of the amount calculated at prescribed rates




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