banner_ad

Depretetion

This query is : Resolved 
Profile Image

Profile Image

(Querist)
25 November 2011 Dear sir\Mam,
X Co LTD owns two building A&B on April 1st 2003 the rate of Dept is 10% the Dept value being 1415700 it purchase building c 1-1-2003
for Rs 310000 the rate of dept of is which is also 10%.
If building A is sold for Rs 870000 and B 1587000 ON 31/3/2004. Compute the eligible deprecation for the block of asset. can you send the answer for that.
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
25 November 2011 If you are asking for depreciation as per Income Tax Act, Since the block of asset has ceased to exist, the company will not be eligible for depreciation.

Further, short term capital gain of Rs. 7,31,300 will arise, since the sale price exceeds the WDV.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!




Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details