23 June 2010
what will be the depreciation amount as per incometax act for following example.
RATE OF DEP. 10% same block W.D.V as on 1/4/09 of asset "A" Rs.1,00,000 pur.of asset "B" on 1/6/09 Rs.1,00,000 pur.of asset "C" on 1/12/09 Rs. 25,000 pur.of asset "D" on 1/12/09 Rs. 25,000 pur.of asset "E" on 1/12/09 Rs. 25,000 pur.of asset "F" on 1/12/09 Rs. 25,000
26 June 2010
AND WHAT IF RATE OF DEP 30% WHAT IS THE AMOUNT OF DEPRECIATION AS PER INCOME TAX ACT 1961
opening W.D.V of machinery "A" and "B" is Rs 12/- lakhs on 1/4/09. a new machinery "C" is purchase on 10/12/09 for Rs. 10 lakhs. and on 28/03/2010 machinery "A" is sold for Rs.8 lakhs.
WILL THERE BE ANY CHANGES IN ANSWER IF MACHINERY "" C "" IS SOLD INSTEAD OF MACHINERY "A" ON 28/03/2010 FOR RS. 8 LAKHS
CAclubindia
