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Depreciation

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(Querist)
21 October 2014 block of assets
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
21 October 2014 whats your question??????????
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Anand

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Anand (Expert)
22 October 2014 In block of asset concept we charge depreciation on the value of closing value of block.
It is determined as follows
Opening block
Add : additions during the year
Less : deletions during the year
= closing value of block
INCOME TAX does not recognise individual asset concept.. it allows only block of asset concept. Blocks are formed putting together assets on which same rate of depreciation is charged.
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