Sec. 32

This query is : Resolved

CA Saba Naaz (Querist)
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15 September 2010 What will the value of depreciation?
WDV of machine as on 1-4-2009 is Rs.500000. New machine z acquired on 19-12-2009 for Rs.250000 & put to use on 30-12-2009.Machine is sold on 12-2-2010 for Rs.100000.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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15 September 2010 Depreciation will be calculated only on the opening balance of the block.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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15 September 2010 For machine Z : purchase cost will be added to the gross block & selling price will be deducted from the gross block.

No depreciation is allowed on Z.

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