banner_ad

Depreciation

This query is : Resolved 
Profile Image

Profile Image

(Querist)
05 August 2013 Sir

please explain the concept of depreciation as per income tax act

suppose a firm has machinery of 255500(W.D.V. AS ON 31.3.2012) NOW ON 01.6.2012 MACHINERY HAS BEEN SOLD FOR 150000 NOW TELL WHAT WILL BE DEPRECIATION AS PER INCOME ACT ON WHOLE MACHINERY BLOCK FOR THE YEAR 12-13

HOW THE MACHINERY SOLD IS TO BE TREATED
PLEASE EXPLAIN IN SIMPLE LANGUAGE AND MENTION EXACT RATE OF DEPRECIATION

THANKS & REGARDS
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
08 August 2013 Is this the only machinery in the block?
If this machinery is the only asset in the block then Rs. 1,05,500 will be allowed as deduction u/s 32.
Profile Image

dheeraj kumar

Profile Image

dheeraj kumar (Querist)
08 August 2013 no some machinery is still left
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
08 August 2013 In that case depreciation will be charged on Rs. 1,05,500 @ 15%.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details