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Depreciation under sec 32

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tejas (Querist)
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21 August 2012 asset as on 1/4/11 = Rs. 200000,as on 1/5/11 this asset is sold out for Rs.400000. as on 1/8/11 new asset is purchase for Rs.500000. What is the depreciation under sec 32 as per income tax for the F.Y.11-12..Please give me answer.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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21 August 2012 depreciation will be allowed on Rs. 300000 at the rate prescribed.

tejas (Querist)
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21 August 2012 Rate is 10% please saw me calculation.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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21 August 2012 Opening WDV- RS. 200000
Add: addition during the year.Rs. 500000
less: Sale during the year Rs. 400000
WDV Rs. 300000
Depreciation on above @10% Rs. 30000

SANYAM ARORA

SANYAM ARORA (Expert)
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21 August 2012 Agreed with the reply

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tejas (Querist)
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21 August 2012 ok thank you....

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