Calculation of depreciation on block of assets
This query is : Resolved
01 March 2012
Query regarding calculation of depreciation on block of assets.
(a) WDV of Assets 1,2,3 as on 01.04.10 = Rs.5091/-. (b)Addition of Asset 4 purchased on 29.06.10 = Rs.17600/-, (c)Addition of Asset 5 purchased on 18.02.2011 (in the second half of AY) = Rs.26850/-, (d) Sale consideration of Asset 4 on 02.02.11 (in the second half of AY) = Rs.7000/-. I shall appreciate if someone could offer his expertise in calculating depreciation in case of the above example. Also, is it true that depreciation is not allowed if a Asset from Block of Assets is sold either during the first or second part of AY?
(a) WDV of Assets 1,2,3 as on 01.04.10 = Rs.5091/-. (b)Addition of Asset 4 purchased on 29.06.10 = Rs.17600/-, (c)Addition of Asset 5 purchased on 18.02.2011 (in the second half of AY) = Rs.26850/-, (d) Sale consideration of Asset 4 on 02.02.11 (in the second half of AY) = Rs.7000/-. I shall appreciate if someone could offer his expertise in calculating depreciation in case of the above example. Also, is it true that depreciation is not allowed if a Asset from Block of Assets is sold either during the first or second part of AY?
Guest
Guest
(Expert)
01 March 2012
Opening WDV- 5,091/-
Addition on 29.6.10- 17,600/-
Addition on 18.2.11- 26,850
Gross- 49,541/-
Deletion- 7,000/-
Net block - 42,541/-
Depreciation-
On 15,691/- allowed for full year
On 26,850/- allowed for half year.
Since the rate is not given exact amt. is not calculated.
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