cs executive

please solve it with working note

max ltd. a foriegn corporate,amalgamates on 1.10.2008 with zenith ltd. purchase consideration was fixed for rs 20 lakhs.particulars of their assets are given below

 

 

particulars                                                  max ltd                          zenith ltd.

rate of dep.                                                     15%                             15%

WDV AS ON 1.4.2008                           12 LAKH                         10 LAKH

MACHINARY PURCHASED ON PUT TO USE

(i) 1.4.2008 MACHINE T                        5 LAKH

(II) 15.11.2008 MACHINE Z                                                             4 LAKH

MACHINE T IS SOLD ON 30.11.2008           4 LAKH                          -

 

 

COMPUTE THE DEPRECIATION ALLOWANCE ADMISSABLE OF MAX LTD. AND ZENITH LTD. IF:

1. MAX LTD AN INDIAN CO.

2. MAX LTD IS A FOREIGN CO.

 

 

10MARKS

Replies (1)

I THINK

01. INDIAN CO. DEPRICATION RS. 195000/-

02 FOREIGN CO. DEP. RS. 180000/-

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