Section 50
This query is : Resolved
CA Sarita Rathore
(Querist)
17 June 2014
I have 2 machinery in a same block..wdv is mach-1 is of Rs.100000 and mach-2 is of Rs.500000.....sold to mach-1 in Rs.200000 then what will be the closing wdv of that block
Rupesh Jain
(Expert)
17 June 2014
100000+500000-200000= 400000
depreciation will charge on rs. 400000 @ 15% as per income tax act.
depreciation will charge on rs. 400000 @ 15% as per income tax act.
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