Depreciation on remaining block

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 January 2014 Following block of assets concept,do we need to bifercate closing wdv of block into assets used for more than 180 days and less than 180days and claim depreciation.
for ex: opening wdv is 100000
assets purchased after 180 days is 50000
assets sold from opening wdv 50000 and from assets purchased during year 25000.
how will be dep calculated
option 1:(100000+50000-25000)*rate say 10%
option 2: (100000-50000)*10% +(50000-25000)*5%.
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AVTAR SINGH

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AVTAR SINGH (Expert)
30 January 2014 Charge depreciation as per option 2.
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Querist : Anonymous

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Querist : Anonymous (Querist)
30 January 2014 Thanks..Mr. Avtar this means 180 days condition is for asset and not on block of assets.
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AVTAR SINGH

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AVTAR SINGH (Expert)
30 January 2014 Yes. It is for asset purchased during the year.
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Querist : Anonymous

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Querist : Anonymous (Querist)
30 January 2014 can v follow fifo i.e opeing 1,00,000-75000 *10% and 50000*5% avtar sir
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AVTAR SINGH

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AVTAR SINGH (Expert)
30 January 2014 No. The assets have to be identified during the purchase year.

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