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?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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.

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