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Depreciation

Kailash Happe (10 Points)

17 December 2018

Can someone give me a examples of Terminal Depreciation and balancing charge

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CA ABHAY GUPTA (Practice) (3230 Points)
Replied 17 December 2018

suppose a power generation unit had the assets as mentioned below

original cost 100 lakhs
current wdv 70 lakhs
assets sold for 62 lakhs

then terminal depreciation = current wdv - sales price i.e. 70 - 62 lakhs = 8 lakhs

in case asset sold for 90 lakhs then 90 - 70 lakhs = 20 lakhs will be balance charge income u/s 41 of PGBP

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Kailash Happe (10 Points)
Replied 17 December 2018

Thank you so much Abhay sir

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