Stcg

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 August 2012 Dear Experts,

Please explain the following problem.

WDV of a block of assets Rs 2o lakhs as on 01.04.2011.
Additions on 15.12.2011,Rs 5 lakhs
Sale during 2011-12 Rs 10 lakhs.

What will be the WDV as on 31.03 2012?
If the rate of depreciation applicable is 10% ,what will be the depreciation?

What will be the STCG or STCL in the above case?

Guest

Guest (Expert)

22 August 2012 WDV as on 31.3.2012= 20+5-10 = 15 lakhs.
Depreciation: on opening WDV: 10,00,000 * 10% = 1,00,000/-
on additions = 500000*5% = 25000/-
Total Depreciation: 125000/-
WDV as on 31.3.12= 13,75,000/-
Note: In the above calculation it is assumed that few assets are left in that block.