In 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)
THANK YOU. Got it
As per Income Tax Act where Assests used more than 180 days full Depreciation will be charged.
Karia Overseas
Ahmedabad
CA
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