depriciation
This query is : Resolved
18 September 2009
if i sold my fixed asset during the year
than i can claim depriciation on that asset for the year
than i can claim depriciation on that asset for the year
18 September 2009
As per Income Tax Rules, no depreciation is admissible in the year of sale.
18 September 2009
AGGREED with expert
19 September 2009
you have to consider it Block wise.
if the all asset of a block has been sold or the sales consideration of an asset is higher than the block's wdv, then you cannot claim depreciation on that block. there will be a short term capital loss or gain.
if the all asset of a block has been sold or the sales consideration of an asset is higher than the block's wdv, then you cannot claim depreciation on that block. there will be a short term capital loss or gain.
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