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Depreciation us 32

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Querist : Anonymous

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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
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CA Suraj Lakhotia

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CA Suraj Lakhotia (Expert)
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.
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