WDV OF THE BLOCK OF ASSET OF P.Y 2013-2014 AFTER DEPRECIATION ALLOWANCE U/S 32 = 2000000.
A MACHINE WAS ACQUIRED ON 25-09-2014 COSTING RS 600000.
A MACHINE WAS DESTROYED BY FIRE OCCURRED IN MARCH 2015 FOR WHICH INSURANCE COMPANY ADMITTED A CLAIM OF RS. 300000 ON 20-04-2015 AND PAID THE SAME ON 05-05-0215. THIS MACHINE WAS SCRAPED FOR RS. 20000.
A NEW MACHINE WAS PURCHASED ON 08-05-2015 COSTING RS 800000.
RATE OF DEPRECIATION IS 10% FOR THIS BLOCK OF ASSET.
HOW TO COMPUTE DEPRECIATION ALLOWANCE U/S FOR THE ASSESSMENT YEAR 2016-2017
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