Indira (CA ) (1381 Points)
12 September 2017In case of slump sale for depreciation of patents at 25% acquired say on 1.7.2015 what would be the depreciation for the year 2015-2016. In new study material of icai final problem number 14, capital gains they have taken the depreciation for entire year instead of for 9 months. Can anybody please clarify?
Patents 50000
Dep @ 25% 12500 (My question is should it not be for 9 months)
Ashiwini Ballodia
(Managing Partner at TAXounting)
(8737 Points)
Replied 12 September 2017
MOHD AFROZ
(STUDENT)
(1480 Points)
Replied 12 September 2017
As per Income Tax Act where Assests used more than 180 days full Depreciation will be charged.
CAclubindia
