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Income on Business

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20 October 2009 Question:
Suppose I have machinery X with a WDV of Rs 100000 on 1/4/08.
it is given that two more machines were put into use on 1/1/09,details are given below,
Machine Y(purchased on 1/6/07)-Rs 50000
Machine Z(purchased on 1/1/09)-Rs 40000

Later Machine X was sold for Rs 160000.
It is given that all the machines X,Y and Z belong to the same block of asset with rate of deprecation 10%.
Calculate the deprecation for this year.
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
21 October 2009 OPening wdv is 100000
Additions 50000
(-) Deductions 160000 (assumed date of sale before sep)
Balance - 10000
new machine 40000
net block 30000
Depn. 1500 (50% being second half purchases)
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