Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 December 2013
Under Block of Assets concept, can sale of car be adjusted against WDV of Medical Equipments?
As Sec 2(11) Block of Assets : Tangible assets can be grouped under same percentage.
So can sale of car be adjusted against WDV of medical equipment?
As per Sec 32 Depreciation : Block III Machinery and Plant :
(1) Machinery and Plant other than those covered under sub section (2) below - 15%.
(2) Motor Cars other than those used in business - 15%.
Can sale of car be adjusted against WDV of Medical Equipments?
As Sec 2(11) Block of Assets : Tangible assets can be grouped under same percentage.
So can sale of car be adjusted against WDV of medical equipment?
As per Sec 32 Depreciation : Block III Machinery and Plant :
(1) Machinery and Plant other than those covered under sub section (2) below - 15%.
(2) Motor Cars other than those used in business - 15%.
Can sale of car be adjusted against WDV of Medical Equipments?
02 January 2014
There is sub-grouping under main groups. Asset falling in one sub-group CANNOT be adjusted against another sub-group.
Accordingly, sale of motor car CANNOT be adjusted against WDV of machinery.
Accordingly, sale of motor car CANNOT be adjusted against WDV of machinery.
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