Depericiation

Ram Avtar Gupta (Querist) 06 May 2014 This query is : Resolved
sir,
if we sold any fixed assets before 31st march can we not claim the depericiation for whole year for example we sold our scooter 25.2.2014 than we will not take the benefit of depericiation up to sale date please solve my query

thanks

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Sankaranarayanan (Expert) 06 May 2014
Accdemic query

Rajendra K Goyal (Expert) 06 May 2014
Academic query.

R.V.RAO (Expert) 08 May 2014
No depreciation is available in the year of the sale of the asset,under income tax act.

source:http://vakilsearch.com/how-is-depreciation-treated-for-income-tax-purposes/

T. Kalaiselvan, Advocate (Expert) 08 May 2014
Academic query, consult your auditor who will be able to clarify the issue properly.

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