Depreciation
This query is : Resolved
Debashis Mandal
(Querist)
26 September 2010
Respected Experts
Pls. consider the problem -
say one Blog of asset consists of only one asset on 01.04.2009 which WDV on 01.04.2009 is Rs,10000, & which attracts Depreciation @10% p.a. on 05.10.2009 the only asset is sold by Rs.9700 & on 08.11.2009 another same asset of same blog purchased by Rs.20000, which also attracts Depreciation rate @ 10% p.a.
Now is the 1st asset which is sold befour purchasing the 2nd asset can avail any depreciation benifit. all the assets r used from the day of purchased.
pls. solve the problem
Thanks
Debashis
Pls. consider the problem -
say one Blog of asset consists of only one asset on 01.04.2009 which WDV on 01.04.2009 is Rs,10000, & which attracts Depreciation @10% p.a. on 05.10.2009 the only asset is sold by Rs.9700 & on 08.11.2009 another same asset of same blog purchased by Rs.20000, which also attracts Depreciation rate @ 10% p.a.
Now is the 1st asset which is sold befour purchasing the 2nd asset can avail any depreciation benifit. all the assets r used from the day of purchased.
pls. solve the problem
Thanks
Debashis
CA Suraj Lakhotia
(Expert)
26 September 2010
The depreciation will be computed on 10000-9700 i.e on 300 for full year and on 20000 for half year.
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