depreciation on sold car

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 October 2010 i sold my car for 100000/- on 1st october cost of car on wdv basis was 275000/- on 1st april.

can i charged depreciation on same for the period and loss can be debited to p&l a/c

sudhakar ca cwa

sudhakar ca cwa (Expert)
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01 October 2010 https://www.caclubindia.com/forum/depreciation-on-sale-of-car-107063.asp

CA Punit

CA Punit (Expert)
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01 October 2010 If @ end of year you have any other asset in the block then depreciation will be allowed on the difference of 175000

If no other asset remained in the block it will amount to short term capital loss

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