Depreciation-WDV Method
This query is : Resolved
08 July 2009
How to calculate WDV on block of asset pertaining to following case ?
Block - III Plant and Machinary
WDV (asset-1 and 2) 1-04-2008 Rs 75000-00
Sales Asset-1 (Opening WDV Rs 65000)for Rs 80000-00 on 1-08-2008
Purchases 1-09-2008 Rs 90000-00
Is there any prifit on sale?
How to treat that profit?
Block - III Plant and Machinary
WDV (asset-1 and 2) 1-04-2008 Rs 75000-00
Sales Asset-1 (Opening WDV Rs 65000)for Rs 80000-00 on 1-08-2008
Purchases 1-09-2008 Rs 90000-00
Is there any prifit on sale?
How to treat that profit?
08 July 2009
opening wdv 75000
less :sale (80000)
add : purchase 90000
closing wdv 85000
as section 50 is not applicable ( wdv is not zero and block is not empty) provide depreciation on 85000 for full year as its for more than 182 days.
less :sale (80000)
add : purchase 90000
closing wdv 85000
as section 50 is not applicable ( wdv is not zero and block is not empty) provide depreciation on 85000 for full year as its for more than 182 days.
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