22 September 2014
Opening block as on 01.04.2013 is 10000 It contains two assets 7500 and 2500 We have sold asset 2500 for 1000 . While computation of Depr as per IT ACT Opening WDV 10000 Consideration 1000 Closing WDV 9000 Block is of 15% nature. So Depreciation has to be 9000*15% . Correct me if I am wrong
CAclubindia
