Comapny has sold the depreciable asset(car) during FY 12-13 for Rs 25 lacs whose WDV on 1apr'12 was Rs 58 lacs . Opening WDV of Block of asset was Rs 94 . Depreciation is @15%. No assets were purchased during 12-13, assets sold was only above i.e Rs 25 lacs (wdv 58 lacs as said above)
Now my question is how do i calculate depreciation on above block is it @15 on (94-25)=69,? How much would be STCG? any otehr effects would come.
CAclubindia
