Deprciation
This query is : Resolved
02 July 2012
hello
i have just faced a case, a company has 4 inter units and in 30/9/11 it close its one unit,so all the assets of that unit are sold out and some were transferred to other units now on 30/9/11 as per income tax act what is the solution to charge depreciation on those asset of that unit which is sold out is it possible..??and what will be if it close its books on 31/3/12..??
i have just faced a case, a company has 4 inter units and in 30/9/11 it close its one unit,so all the assets of that unit are sold out and some were transferred to other units now on 30/9/11 as per income tax act what is the solution to charge depreciation on those asset of that unit which is sold out is it possible..??and what will be if it close its books on 31/3/12..??
02 July 2012
Go by the concept of BLOCK of ASSET.
03 July 2012
sir it means no depr. will be charged as at
the end of the FY whole block will be
zero.... but is there any exception that
will make it possible to charge depr.
because as no depr. will b charged then profits are very large
the end of the FY whole block will be
zero.... but is there any exception that
will make it possible to charge depr.
because as no depr. will b charged then profits are very large
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