Depreciation on remaining block of asset
This query is : Resolved
kumar kanakum
(Querist)
24 December 2010
Where the part of block of asset is sold for more than its total opening WDV value of the whole block of asset then am we can charge depreciation on remaining block of asset?
Is u r answer Is same in the case of persons having 2 different proprietary concerns
Is u r answer Is same in the case of persons having 2 different proprietary concerns
CA Kalpesh Gokani
(Expert)
24 December 2010
No depreciation can not be charged if sale consideration is more than WDV of block of asset..for 2 differest business this applies to each business individually...not collectively
kumar kanakum
(Querist)
27 December 2010
in proprietor balance sheet it is showing collectively even in ITR also so how we can claim the depreciation
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