Depreciation
This query is : Resolved
11 October 2008
can assesse treat two cars as two blocks seperately for depreciation purpose or he has to compulsarily treat them as per IT Act...?
11 October 2008
I think you can not treat two different blocks. You have to treat only only block of asset.
If you want to treat 2 diff. blocks of assets, then it will depend on the use of the asset, its nature, etc.
Regards'
yatesh Renuke
If you want to treat 2 diff. blocks of assets, then it will depend on the use of the asset, its nature, etc.
Regards'
yatesh Renuke
11 October 2008
If the rate of depreciation of the assets are same it should be grouped in one block itself.
11 October 2008
Unless and otherwise two separate rate of depreciation applicable considering their respective uses, both the Cars should be shown in a single block.
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