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Q4: We use balancing allowance/charge only in case when we dispose the motor car for less then cost (because if we hadn’t disposed it we could get relief for whole amount of cost), right?
Explain, sir, please.Sir, if balancing allowance/charge arises on single asset which is used for private purpose, then will the balancing allowance/charge will be apportioned according to business use?
Thanks
its deducted in full, but added into allowances according to business use persentage.
Yes – where a balancing adjustment arises on the disposal of an asset that has private use by the proprietor (non pool asset) then it will be restricted to the business use %
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