Depreciation on remaining block

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
29 January 2014 Following block of assets concept,do we need to bifercate closing wdv of block into assets used for more than 180 days and less than 180days and claim depreciation.
for ex: opening wdv is 100000
assets purchased after 180 days is 50000
assets sold from opening wdv 50000 and from assets purchased during year 25000.
how will be dep calculated
option 1:(100000+50000-25000)*rate say 10%
option 2: (100000-50000)*10% +(50000-25000)*5%.

30 January 2014 Charge depreciation as per option 2.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
30 January 2014 Thanks..Mr. Avtar this means 180 days condition is for asset and not on block of assets.

30 January 2014 Yes. It is for asset purchased during the year.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
30 January 2014 can v follow fifo i.e opeing 1,00,000-75000 *10% and 50000*5% avtar sir

30 January 2014 No. The assets have to be identified during the purchase year.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro

Follow us
add to google news


Answer Query



Company
ARTICLESHIP 15 July 2026
CA Articles

Kinjal H Shah & Co.

Mumbai

CA Foundation

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
ARTICLESHIP 08 July 2026
Article internship

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
11 July 2026
CA semi qualified

Vakilsearch.com

Chennai

CA Inter

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
14 July 2026
Senior Executive/ Manager

H S SHARMA AND CO

Pune

CA Final

View Details
Company
13 July 2026
AVP / VP - PCG Advisory

Workforce Connect

Mumbai

MBA

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details