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Depreciation IT Act in the year of Asset Sold

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(Querist)
12 June 2022 We are selling assets, like P & M, Furniture and other office equipment as we are shifting our establishment

We will sell assets by 31st Jul 2022, is depreciation allowable on the assets sold during the year

In some cases block of asset will cease to exist and in some cases it will be exist
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
12 June 2022 Charge depreciation after crediting sale value to block of assets.
No depreciation in case of block of assets cease to exist.

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