Depreciation us 32
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 March 2013
for instance the wdv of plant as on 1.4.2012 is 100000 and it is sold on 1.12.2012 for 3lakhs,...while computing capital gains y do we directly reduce 100000 from 300000 and y dont we claim depreciation for 2012-13..wich condition is violated..plz explain
12 March 2013
Depreciation is calculated on WDV at the end of year. Now since the opening block is 1 lac and it was sold for 3 lac, the closing WDV is Nil and Hence no depreciation.
The sale proceeds less opening WDV would be short term capital gain.
The sale proceeds less opening WDV would be short term capital gain.
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