About depreciation
This query is : Resolved
07 October 2013
Why Depreciation is not calculating on sale of assests in Income Tax? what logic behind this?
08 October 2013
Under Section 32 of Income Tax, Depreciation is calculated only on the Gross Block as on last day of financial year and for this reason any asset, if sold during the financial year, will be reduced from the Gross Block for its full sale value and on the balance Depreciation will be calculated.
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