1. Rate of depreciation applicable on the asset is 10%. depreciation rates income tax. Depreciation rate chart for FY 2020-21 / AY 2021-22 as produced in the table below. The due date for filing ITR-3 in case of a taxpayer subject to tax audit has been extended to 15th February 2022 from 31st October 2021 for the AY 2021-22 (FY 2020-21). The department has also modified Enum 80-IAB and 80-IAC under the JSON root element audit details. Amendment w.e.f., 01st April 2019 To reduce the compliance burden on small and medium enterprises, section 44AB is proposed to amended to increase the threshold limit, for a person carrying on business, from Rs. Reply. S. No. As per companies act 2013, Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life, where the Before knowing the Depreciation Rate as Per Companies Act for AY 2022-23, we must know the meaning of depreciation.In simple words, depreciation is a reduction in the value of assets over time, due in particulars to wear and tear. Rate of Income tax applicable to Partnership Firm / LLP. 5 crores.. 1 crore to Rs. 5 crores.. Indexation of Capital Gain- practical example. 2021-22, Dividend income is taxable in the hands of the shareholders. What is Depreciation Rates as per Income Tax. Amendment w.e.f., 01st April 2019 To reduce the compliance burden on small and medium enterprises, section 44AB is proposed to amended to increase the threshold limit, for a person carrying on business, from Rs. But w.e.f. The additional subvention brought down the effective rate of interest to 4%. Reference is invited to Circular No. a. tangible assets, being building, machinery, plant or furniture; b. intangible assets, being knowhow, patents, copyrights, trade-marks, licenses, franchises or any other business or commercial rights of similar nature not being goodwill of a business or profession,, in respect of which the same percentage of depreciation is prescribed. Deductions include deduction Against Salaries, Against income from house properties, Against profits and gains of business or profession Against capital gains and Against income from Ans. (Subject to the condition that rental income from plant, machinery or furniture is chargeable to tax under income from other sources) DEPRECIATION RATES UNDER INCOME TAX ACT (AY 2020-21 & Onwards) 14 Jun,2020. Let us understand the above three points with examples; A. Reference is invited to Circular No. Single Person: Cash Receipt of Rs 2 lakh or more, from a single person in a day is not allowed even if the amount has been paid through multiple transactions during the day which are below Rs 2 lakh.. For example: Mr Virat buys a gold chain 2) In the chart of depreciation, the assessee-company has not shown any immovable property either the land or land together with the factory building, plant & machinery etc. Rs. As per companies act 2013, Depreciation is the systematic allocation of the depreciable amount of an asset over Farm loans attract an interest of 7%. An additional interest subvention of 3% per annum also applied to farmers who make timely repayment of their loans. House Rent Allowance, Children Education Allowance, Hostel Exp. Rate of Depreciation as per companies act 2013 for different asset classes. How to Calculate Depreciation Rate as per Income Tax Act, 1961. Year 2021-22, CI Index : 317 Indexed cost : 4000000 x 317/122 = 10400000 ( He also sold his furniture (Household) for 10,000. But w.e.f. The due date for furnishing tax audit report is extended to 15th January 2022. Meaning of Depreciation-Before knowing the Depreciation Rate as per Companies Act for AY 2021-22, we must know the meaning of depreciation.In simple words, depreciation is a reduction in the value of assets over time, due in particulars to wear and tear. 5 crores shall be applicable only when cash receipt and payment made during the A.Y. subject: income-tax deduction from salaries during the financial year 2021-22 under section 192 of the income-tax act, 1961. Single Person: Cash Receipt of Rs 2 lakh or more, from a single person in a day is not allowed even if the amount has been paid through multiple transactions during the day which are below Rs 2 lakh.. For example: Mr Virat buys a gold chain Written Down Value: Under this method, the rate of depreciation will be applied on the written down value of the asset to calculate the amount of depreciation. 2019-20 200000 as on 01.04.2020 and initialized on the same day in the premises of business. A.Y. Section 269ST & Rs 2 Lakh Cash Transaction Limit Examples. : Rs.800 common for various areas of North East, Hilly areas of U.P., H.P. Enjoy millions of the latest Android apps, games, music, movies, TV, books, magazines & more. The Income-tax department has showcased new changes in JSON schema for e-filing of form ITR 6 for AY 2021-22. Rs. Year 2021-22, CI Index : 317 Indexed cost : 4000000 x 317/122 = 10400000 ( He also sold his furniture (Household) for 10,000. The Income-tax department has showcased new changes in JSON schema for e-filing of form ITR 6 for AY 2021-22. As per companies act 2013, Depreciation is the systematic allocation of the depreciable amount of an asset over subject: income-tax deduction from salaries during the financial year 2021-22 under section 192 of the income-tax act, 1961. 0.5% of Turnover or gross receipts. 5 crores.. Type of Allowance: Amount exempt: 1. Section 44AB- This section deals with the tax audit limit and provision of the Tax Audit. Single Person: Cash Receipt of Rs 2 lakh or more, from a single person in a day is not allowed even if the amount has been paid through multiple transactions during the day which are below Rs 2 lakh.. For example: Mr Virat buys a gold chain However, the increased threshold limit of Rs. Deductions include deduction Against Salaries, Against income from house properties, Against profits and gains of business or profession Against capital gains and Against income from 10 crores for the person who is carrying on business and fulfills the below conditions- (i) The aggregate of all amounts Depreciation as per accounting terms is reduction of the cost of fixed asset in a systematic manner in order to depict the correct value of Asset-Liability position. Meaning of Depreciation In simple words, depreciation is a reduction in the value of assets over time, due in particulars to wear and tear.. Before knowing the Depreciation Rate as per Income Tax Act For AY 2022-23, we must know the meaning of depreciation.. Let us understand the above three points with examples; A. Depreciation and Short-term Capital Gain on Goodwill WEF AY 2021-22 Income tax Notice under section 143(2) for AY 2020-21 All about e-Invoicing under the GST Law 1 crore to Rs. 2023-24 / F.Y. The original cost of furniture 6,000. Rate of depreciation applicable on the asset is 10%. In technical words, we can say that Depreciation is the systematic allocation of the depreciable 2) In the chart of depreciation, the assessee-company has not shown any immovable property either the land or land together with the factory building, plant & machinery etc. 7000 per month for Siachen area of J&K and Rs.300 common for all places at a height of 1000 mts or more other than the above places. body.Now the question is what is the inflation rate as per Income tax act 1961.What cost I will take to file the return AY-2020-21. 2023-24 / F.Y. We would like to show you a description here but the site wont allow us. Flat rate of 30% on the total income after deduction of interest and remuneration to partners/Designated Partners at the specified rates + Surcharge of 12% if Total Income exceeds 1 Crore and will be further increased by education cess secondary and higher education cess @ 3% on Income-tax (Wef A.Y. In this article we have discussed Income Tax deduction available to Taxpayers from various sources of Income for A.Y. Indexation of Capital Gain- practical example. Depreciation and Short-term Capital Gain on Goodwill WEF AY 2021-22 Income tax Notice under section 143(2) for AY 2020-21 All about e-Invoicing under the GST Law Written Down Value: Under this method, the rate of depreciation will be applied on the written down value of the asset to calculate the amount of depreciation. (Subject to the condition that rental income from plant, machinery or furniture is chargeable to tax under income from other sources) DEPRECIATION RATES UNDER INCOME TAX ACT (AY 2020-21 & Onwards) 14 Jun,2020. Type of Allowance: Amount exempt: 1. In this case, as per the above-mentioned chart, the CII for the years 2001-02 and 2017-18 is 100 and 271 respectively. capital assets on which depreciation is charged is sold to attract short term capital gain. Meaning of Depreciation In simple words, depreciation is a reduction in the value of assets over time, due in particulars to wear and tear.. sept 22/gold up $5.20 to $1672.95//silver is up 10 cents to $1960//platinum is down $11.00 to $907.40//palladium is up $47.90 to $2171.65//japans central bank intervenes to stop the bleeding from a falling yen//for the past two days there have been zero sales on the 10 yr japanese bond//france nationalizes a struggling nuclear utility//switzerland and the bank of Anytime, anywhere, across your devices. W.e.f., 01st April 2019 (also applicable for AY 2021-22), the government has inserted a new limit of turnover of Rs. Meaning of Depreciation In simple words, depreciation is a reduction in the value of assets over time, due in particulars to wear and tear.. 5 crores shall be applicable only when cash receipt and payment made during the : Rs.800 common for various areas of North East, Hilly areas of U.P., H.P. Indexation of Capital Gain- practical example. 2021-22, Dividend income is taxable in the hands of the shareholders. No (e) of Schedule-IC/IE>0 , and form 10CCB for the AY 2021-22 is not filed: 4: D: Deduction u/s 80- IB(11B) is claimed in the Income Tax Return then Form 10CCBC should be filed within due date. Section 269ST & Rs 2 Lakh Cash Transaction Limit Examples. Reference is invited to Circular No. The due date for filing ITR-3 in case of a taxpayer subject to tax audit has been extended to 15th February 2022 from 31st October 2021 for the AY 2021-22 (FY 2020-21). The due date for furnishing tax audit report is extended to 15th January 2022. Section 44AB of Income Tax Act. Before knowing the Depreciation Rate as Per Companies Act for AY 2022-23, we must know the meaning of depreciation.In simple words, depreciation is a reduction in the value of assets over time, due in particulars to wear and tear. Hence, the The additional subvention brought down the effective rate of interest to 4%. Rate of Depreciation as per companies act 2013 for different asset classes. Enjoy millions of the latest Android apps, games, music, movies, TV, books, magazines & more. Before knowing the Depreciation rate as per Income Tax Act for FY 2021-22, we must know the meaning of depreciation.. Articles compiles List of benefits available to Salaried Persons for AY 2019-20 which includes 1. Example:-Mr. Kiyaan purchased a flat in FY 2001-02 for Rs. 11 Depreciation on 9 at half rate; 12 Additional depreciation, if any, on 4; 13 Additional depreciation, if any, on 7; 14 Additional depreciation relating to immediately preceding year on asset put to use for less than 180 days; 15 Total depreciation* (10+11+12+13+14) 16 Depreciation disallowed under section 38(2) of the I.T. 2022-23 and subsequent Years. Rate of Depreciation as per companies act 2013 for different asset classes. subject: income-tax deduction from salaries during the financial year 2021-22 under section 192 of the income-tax act, 1961. As per section 32(1), of the Income Tax Act, 1961 the depreciation should be computed at the prescribed percentage on the WDV of the assets, which in turn is calculated with In this case, as per the above-mentioned chart, the CII for the years 2001-02 and 2017-18 is 100 and 271 respectively. If asset has been sold during FY 2021-22 > select Yes or No from drop down; Estimated residual value > as estimated during FY 2014-15. Depreciation as per accounting terms is reduction of the cost of fixed asset in a systematic manner in order to depict the correct value of Asset-Liability position. But w.e.f. 10 Lakh.He sells the same flat in FY 2017-18. House Rent Allowance, Children Education Allowance, Hostel Exp. What is Depreciation Rates as per Income Tax. During 2021-22, the interest subvention for similar short-term farm loans was 2%. As per companies act 2013, Depreciation is the systematic allocation of the depreciable amount of an asset over In technical words, we can say that Depreciation is the systematic allocation of the depreciable Rs. Business Registration Service Provider. In this article we have discussed Income Tax deduction available to Taxpayers from various sources of Income for A.Y. Special Compensatory Allowance for hilly areas or high altitude allowance or climate allowance. depreciation rates income tax. The original cost of furniture 6,000. Act (out of column 12) 14 Net aggregate depreciation (12-13) 2019-20 2) In the chart of depreciation, the assessee-company has not shown any immovable property either the land or land together with the factory building, plant & machinery etc. An additional interest subvention of 3% per annum also applied to farmers who make timely repayment of their loans. W.e.f., 01st April 2019 (also applicable for AY 2021-22), the government has inserted a new limit of turnover of Rs. 1. Before knowing the Depreciation rate as per Income Tax Act for FY 2021-22, we must know the meaning of depreciation.. Before knowing the Depreciation Rate as Per Companies Act for FY 2021-22, we must know the meaning of depreciation.In simple words, depreciation is a reduction in the value of assets over time, due in particulars to wear and tear. Residual/ Salvage value% is considered at 5%. Depreciation Rate as per Companies Act For AY 2020-21. depreciation rates income tax. Example:-Mr. Kiyaan purchased a flat in FY 2001-02 for Rs. Residual/ Salvage value% is considered at 5%. No (e) of Schedule-IC/IE>0 , and form 10CCB for the AY 2021-22 is not filed: 4: D: Deduction u/s 80- IB(11B) is claimed in the Income Tax Return then Form 10CCBC should be filed within due date. Act (out of column 12) 14 Net aggregate depreciation (12-13) Depreciation as per accounting terms is reduction of the cost of fixed asset in a systematic manner in order to depict the correct value of Asset-Liability position. During 2021-22, the interest subvention for similar short-term farm loans was 2%. he wants to calculate the depreciation amount for FY 2021-22. Example:-Mr. Kiyaan purchased a flat in FY 2001-02 for Rs. The due date for furnishing tax audit report is extended to 15th January 2022. Now the question is what will be the indexed cost of acquisition.. However, the increased threshold limit of Rs. An additional interest subvention of 3% per annum also applied to farmers who make timely repayment of their loans. Meaning of Depreciation-Before knowing the Depreciation Rate as per Companies Act for AY 2021-22, we must know the meaning of depreciation.In simple words, depreciation is a reduction in the value of assets over time, due in particulars to wear and tear. Deductions include deduction Against Salaries, Against income from house properties, Against profits and gains of business or profession Against capital gains and Against income from As per companies act 2013, Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life, where the The additional subvention brought down the effective rate of interest to 4%. Changes:-Due to proposed changes it can be summarized as below:* Tax Audit Limit for AY 2022-23 is Rs. Articles compiles List of benefits available to Salaried Persons for AY 2019-20 which includes 1. body.Now the question is what is the inflation rate as per Income tax act 1961.What cost I will take to file the return AY-2020-21. How to Calculate Depreciation Rate as per Income Tax Act, 1961. Act (out of column 12) 14 Net aggregate depreciation (12-13) 10 Lakh.He sells the same flat in FY 2017-18. Changes:-Due to proposed changes it can be summarized as below:* Tax Audit Limit for AY 2022-23 is Rs. 9 Amount on which depreciation at the half rate to be allowed (7-8) (enter 0, if the result is negative) 10 Depreciation on 6 at full rate; 11 Depreciation on 9 at half rate; 12 Total depreciation (10+11) 13 Depreciation disallowed under section 38(2) of the I.T. 5 crores and exempts them from tax audit subject to some specified condition. 10 crores for the person who is carrying on business and fulfills the below conditions- (i) The aggregate of all amounts Rate of Income tax applicable to Partnership Firm / LLP. In technical words, we can say that Depreciation is the systematic allocation of the depreciable As per the depreciation chart, the life of computers is 3 years. Let us understand the above three points with examples; A. a. tangible assets, being building, machinery, plant or furniture; b. intangible assets, being knowhow, patents, copyrights, trade-marks, licenses, franchises or any other business or commercial rights of similar nature not being goodwill of a business or profession,, in respect of which the same percentage of depreciation is prescribed. Depreciation Rate as per Companies Act For AY 2020-21. Farm loans attract an interest of 7%. Before knowing the Depreciation Rate as Per Companies Act for FY 2021-22, we must know the meaning of depreciation.In simple words, depreciation is a reduction in the value of assets over time, due in particulars to wear and tear. Flat rate of 30% on the total income after deduction of interest and remuneration to partners/Designated Partners at the specified rates + Surcharge of 12% if Total Income exceeds 1 Crore and will be further increased by education cess secondary and higher education cess @ 3% on Income-tax (Wef A.Y. 2019-20 The department has also modified Enum 80-IAB and 80-IAC under the JSON root element audit details. 7000 per month for Siachen area of J&K and Rs.300 common for all places at a height of 1000 mts or more other than the above places. Year 2021-22, CI Index : 317 Indexed cost : 4000000 x 317/122 = 10400000 ( He also sold his furniture (Household) for 10,000. 1. In this article we have discussed Income Tax deduction available to Taxpayers from various sources of Income for A.Y. If asset has been sold during FY 2021-22 > select Yes or No from drop down; Estimated residual value > as estimated during FY 2014-15. Flat rate of 30% on the total income after deduction of interest and remuneration to partners/Designated Partners at the specified rates + Surcharge of 12% if Total Income exceeds 1 Crore and will be further increased by education cess secondary and higher education cess @ 3% on Income-tax (Wef A.Y. 5 crores shall be applicable only when cash receipt and payment made during the sept 22/gold up $5.20 to $1672.95//silver is up 10 cents to $1960//platinum is down $11.00 to $907.40//palladium is up $47.90 to $2171.65//japans central bank intervenes to stop the bleeding from a falling yen//for the past two days there have been zero sales on the 10 yr japanese bond//france nationalizes a struggling nuclear utility//switzerland and the bank of E-filing, instructions, details required for FY 2018-19: AY(2019-20), FY 2019-20: (AY 2020-21) Income tax Department has categorized taxpayers on the basis of income, source of income and many other factors to ensure easy compliance. & J&K and Rs. The Income-tax department has showcased new changes in JSON schema for e-filing of form ITR 6 for AY 2021-22. Enjoy millions of the latest Android apps, games, music, movies, TV, books, magazines & more. Reply. Ans. Business Registration Service Provider. As per companies act 2013, Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life, where the Section 44AB of Income Tax Act. 0.5% of Turnover or gross receipts. (Subject to the condition that rental income from plant, machinery or furniture is chargeable to tax under income from other sources) DEPRECIATION RATES UNDER INCOME TAX ACT (AY 2020-21 & Onwards) 14 Jun,2020. Rate of depreciation applicable on the asset is 10%. body.Now the question is what is the inflation rate as per Income tax act 1961.What cost I will take to file the return AY-2020-21. Special Compensatory Allowance for hilly areas or high altitude allowance or climate allowance. : Rs.800 common for various areas of North East, Hilly areas of U.P., H.P. Depreciation rate chart for FY 2020-21 / AY 2021-22 as produced in the table below. Written Down Value: Under this method, the rate of depreciation will be applied on the written down value of the asset to calculate the amount of depreciation. Before knowing the Depreciation Rate as per Income Tax Act For AY 2022-23, we must know the meaning of depreciation.. In technical words, we can say that Depreciation is the systematic allocation of the depreciable he wants to calculate the depreciation amount for FY 2021-22. As per companies act 2013, Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life, where the Depreciation Rate as per Companies Act For AY 2020-21. Hence, the W.e.f., 01st April 2019 (also applicable for AY 2021-22), the government has inserted a new limit of turnover of Rs. A.Y. Type of Allowance: Amount exempt: 1. Section 269ST & Rs 2 Lakh Cash Transaction Limit Examples. For example, an asset is purchased for Rs. Meaning of Depreciation In simple words, depreciation is a reduction in the value of assets over time, due in particulars to wear and tear.. No (e) of Schedule-IC/IE>0 , and form 10CCB for the AY 2021-22 is not filed: 4: D: Deduction u/s 80- IB(11B) is claimed in the Income Tax Return then Form 10CCBC should be filed within due date. S. No. 200000 as on 01.04.2020 and initialized on the same day in the premises of business. We would like to show you a description here but the site wont allow us. E-filing, instructions, details required for FY 2018-19: AY(2019-20), FY 2019-20: (AY 2020-21) Income tax Department has categorized taxpayers on the basis of income, source of income and many other factors to ensure easy compliance. capital assets on which depreciation is charged is sold to attract short term capital gain. The department has also modified Enum 80-IAB and 80-IAC under the JSON root element audit details. 0.5% of Turnover or gross receipts. Before knowing the Depreciation Rate as per Income Tax Act For AY 2022-23, we must know the meaning of depreciation.. 7000 per month for Siachen area of J&K and Rs.300 common for all places at a height of 1000 mts or more other than the above places. 2023-24 / F.Y. The due date for filing ITR-3 in case of a taxpayer subject to tax audit has been extended to 15th February 2022 from 31st October 2021 for the AY 2021-22 (FY 2020-21). Section 44AB of Income Tax Act. As per companies act 2013, Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life, where the 11 Depreciation on 9 at half rate; 12 Additional depreciation, if any, on 4; 13 Additional depreciation, if any, on 7; 14 Additional depreciation relating to immediately preceding year on asset put to use for less than 180 days; 15 Total depreciation* (10+11+12+13+14) 16 Depreciation disallowed under section 38(2) of the I.T. As per section 32(1), of the Income Tax Act, 1961 the depreciation should be computed at the prescribed percentage on the WDV of the assets, which in turn is calculated with During 2021-22, the interest subvention for similar short-term farm loans was 2%. E-filing, instructions, details required for FY 2018-19: AY(2019-20), FY 2019-20: (AY 2020-21) Income tax Department has categorized taxpayers on the basis of income, source of income and many other factors to ensure easy compliance. a. tangible assets, being building, machinery, plant or furniture; b. intangible assets, being knowhow, patents, copyrights, trade-marks, licenses, franchises or any other business or commercial rights of similar nature not being goodwill of a business or profession,, in respect of which the same percentage of depreciation is prescribed. Section 44AB- This section deals with the tax audit limit and provision of the Tax Audit. Section 44AB- This section deals with the tax audit limit and provision of the Tax Audit. Now the question is what will be the indexed cost of acquisition.. 1,50,000/-Section 44AD applicability- This section is only applicable to Individual/HUF/ firm. We would like to show you a description here but the site wont allow us. Before knowing the Depreciation Rate as Per Companies Act for FY 2021-22, we must know the meaning of depreciation.In simple words, depreciation is a reduction in the value of assets over time, due in particulars to wear and tear. 2021-22, Dividend income is taxable in the hands of the shareholders. Reply. Rate of Income tax applicable to Partnership Firm / LLP. 5 crores and exempts them from tax audit subject to some specified condition. Depreciation and Short-term Capital Gain on Goodwill WEF AY 2021-22 Income tax Notice under section 143(2) for AY 2020-21 All about e-Invoicing under the GST Law S. No. 9 Amount on which depreciation at the half rate to be allowed (7-8) (enter 0, if the result is negative) 10 Depreciation on 6 at full rate; 11 Depreciation on 9 at half rate; 12 Total depreciation (10+11) 13 Depreciation disallowed under section 38(2) of the I.T. Special Compensatory Allowance for hilly areas or high altitude allowance or climate allowance. 10 crores for the person who is carrying on business and fulfills the below conditions- (i) The aggregate of all amounts 1,50,000/-Section 44AD applicability- This section is only applicable to Individual/HUF/ firm. Before knowing the Depreciation rate as per Income Tax Act for FY 2021-22, we must know the meaning of depreciation.. Articles compiles List of benefits available to Salaried Persons for AY 2019-20 which includes 1. 5 crores and exempts them from tax audit subject to some specified condition. In this case, as per the above-mentioned chart, the CII for the years 2001-02 and 2017-18 is 100 and 271 respectively. & J&K and Rs. In technical words, we can say that Depreciation is the systematic allocation of the depreciable 11 Depreciation on 9 at half rate; 12 Additional depreciation, if any, on 4; 13 Additional depreciation, if any, on 7; 14 Additional depreciation relating to immediately preceding year on asset put to use for less than 180 days; 15 Total depreciation* (10+11+12+13+14) 16 Depreciation disallowed under section 38(2) of the I.T. & J&K and Rs. capital assets on which depreciation is charged is sold to attract short term capital gain. Anytime, anywhere, across your devices. 1,50,000/-Section 44AD applicability- This section is only applicable to Individual/HUF/ firm. Residual/ Salvage value% is considered at 5%. For example, an asset is purchased for Rs. The original cost of furniture 6,000. However, the increased threshold limit of Rs. How to Calculate Depreciation Rate as per Income Tax Act, 1961. 200000 as on 01.04.2020 and initialized on the same day in the premises of business. House Rent Allowance, Children Education Allowance, Hostel Exp. Anytime, anywhere, across your devices. Hence, the Changes:-Due to proposed changes it can be summarized as below:* Tax Audit Limit for AY 2022-23 is Rs. As per the depreciation chart, the life of computers is 3 years. Farm loans attract an interest of 7%. 1 crore to Rs. As per section 32(1), of the Income Tax Act, 1961 the depreciation should be computed at the prescribed percentage on the WDV of the assets, which in turn is calculated with Amendment w.e.f., 01st April 2019 To reduce the compliance burden on small and medium enterprises, section 44AB is proposed to amended to increase the threshold limit, for a person carrying on business, from Rs. 9 Amount on which depreciation at the half rate to be allowed (7-8) (enter 0, if the result is negative) 10 Depreciation on 6 at full rate; 11 Depreciation on 9 at half rate; 12 Total depreciation (10+11) 13 Depreciation disallowed under section 38(2) of the I.T. 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