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U/s 44ad and block asset

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(Querist)
16 July 2012 A FIRM SELLS PROPERTY IN BLOCK AND PURCHASES ANOTHER ONE IN SAME YEAR OF LITTLE HIGHER VALUE.RETURN IS FILED U/S 44AD HOW TO GIVE EFFECT.IF SHOWN UNDER BLOCK DEPRECIATION GETS REDUCED FROM BLOCK AND TOTAL INCOME.IS IT NECESSARY TO DISCLOSE IT AND IF SO HOW.ANY TAX LIABILITY.
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Dharmendra Yadav

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Dharmendra Yadav (Expert)
18 July 2012 To Calculate WDV And Depreciation Follow Below given steps

1-Calculate total Opening WDV Of Block
2-Add assets Purchased During The Year In the Same Block
3-Less Assets Sold During The Year from Same Block
Then U will find the net WDV and no u can apply rate of dep on WDV

Note** all assets which are put to use with in 180 days are liable to charge half rate of dep.

Thanks

Dharmendra Yadav.
dy_03@redifffmail.com
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