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
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