BLOCK OF ASSETS RS.100000 OUT OF THIS ONE ASSETS IS SOLD 30.06.12 AT 10000/- WDV OF THAT IS RS. 9000/- SO PLEASE HELP IN CALCULATION DEPRECIATION
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Depreciation
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BLOCK OF DEPRECIABLE ASSETS IS OF RS. 1,00,000
ONE ASSETS IN THAT BLOCK CARRYING AMOUNT OF RS. 9000/- AND THE SAME HAS BEEN SOLD WITH PRICE RS. 10000/- ON 30.06.2012
SO NOW YOUR BLOCK OF ASSETS AMOUNT AS ON 31ST MARCH, 2013 WILL BE RS. 90,000/-
AND
.
DEPRECIATION SHALL BE CALCULATED ON THAT RS. 90,000/- ONLY.
As per income tax act, depreciation shall be calculated on 100000-10000=90000 for the whole year.
As per accounting , depreciation shall be computed on 91000 for the whole year and for 9000 depreciation shall be calculated for 3 month
depreciation will be on 90000 as per income tax.
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