30 December 2013
Under Block of Assets concept, can sale of car be adjusted against WDV of Medical Equipments? As Sec 2(11) Block of Assets : Tangible assets can be grouped under same percentage. So can sale of car be adjusted against WDV of medical equipment? As per Sec 32 Depreciation : Block III Machinery and Plant : (1) Machinery and Plant other than those covered under sub section (2) below - 15%. (2) Motor Cars other than those used in business - 15%. Can sale of car be adjusted against WDV of Medical Equipments?
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