Red Mfg. Ltd. purchased a new motor car for ₹14 lakhs on 01.11.2019 and used the same w.e.f. 01.12.2019. How much is the amount of depreciation allowable on the car for the assessment year 2021-22 ?
CS Executive · Tax Laws · PYQS · June 2021
Red Mfg. Ltd. purchased a new motor car for ₹14 lakhs on 01.11.2019 and used the same w.e.f. 01.12.2019. How much is the amount of depreciation allowable on the car for the assessment year 2021-22 ?
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Income Tax
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