It sec 32 depreciation

kaidjohar (Querist) 26 March 2012 This query is : Resolved
R/Experts,
How Calculate depreciation for IT purpose on purchase of 2 years used secondhand car?

On basis of first owner puchase price less 2 years dep. or purchase price of second owner ?

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Raj Kumar Makkad (Expert) 26 March 2012
First owner purchase price less 2 years depreciation.

Anirudh (Expert) 26 March 2012
Dear Mr. Kaidjohar,
The purchase price of the second car for the buyer will be the value for the purposes of depreciation at his hands.

However, if the car had been given as a 'gift' then the written down value would be taken as the cost for the purpose of depreciation in the hands of the donee.