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Block of assets
if a assest transfer from business purpose to perasonal then what will be the effect of the same...
E.G. a car from business is transfered to personal use than what would be the value of the same to be deucted from the block
Replies (2)
Simply ,
dep will be calculated from april to till used in business and from the date when assets transfered for personal use dep will be disallowed.
from block the value of dep from the april of such fy to transfered for personal use should be deducted.
How thw value id decided for deduction from block
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