Dear Sir
please provide deprication rate % of four wheeler and if we have purchased four wheeler in 1 January 2021 so we are eligible for derperication in 3 months or 6 months from october to March
12 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 20 February 2021
If you are asked depreciation under income tax act then you will provide 6 months value...
Surinder
(Assistant)
(362 Points)
Replied 20 February 2021
Sir
4 wheeler value is approximately Rs.20 Lacs
4 wheeler value is approximately Rs.20 Lacs
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 21 February 2021
Half of depreciation will be charged as it used for less than 6 months
Naveen Kumar
(629 Points)
Replied 21 February 2021
20% Disc in Certification Courses. GST FM IFRS Excel Coupon Code: DIS20
Sir,
please advise suppose a person purchased Innova-four Wheeler on 16 Feb 21 for business purposes. He has paid Rs. Eighteen Lac's via RTGS Can he pay balance payment Rs.170000 via cash and can he is eligible to Claim deprecation from 1 October 20 to March 2021
Deprecation % is 15%or 45%
Sir,
please advise suppose a person purchased Innova-four Wheeler on 16 Feb 21 for business purposes. He has paid Rs. Eighteen Lac's via RTGS Can he pay balance payment Rs.170000 via cash and can he is eligible to Claim deprecation from 1 October 20 to March 2021
Deprecation % is 15%or 45%
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 21 February 2021
- Cash payments not allowed...
- depreciation rate for vehicle @ 15%. You can provide depreciation from October as per above query ( 15% / 2 )
- depreciation rate for vehicle @ 15%. You can provide depreciation from October as per above query ( 15% / 2 )
CA PARTH SHAH
(In Practice)
(1951 Points)
Replied 22 February 2021
He can claim depreciation @ 7.5% on the amount paid via RTGS portion only.
Shashi
(B.Com)
(26 Points)
Replied 23 February 2021
I purchased any fixed asset like machinery/car etc, Can I claim for ITC in gst and also depreciation.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 23 February 2021
I think Yes***
Bcoz, want more details about Your business and it's activities
Bcoz, want more details about Your business and it's activities
CA PARTH SHAH
(In Practice)
(1951 Points)
Replied 02 March 2021
Depreciation cannot be claimed on ITC portion.
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