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
Menu
Depreciation
Replies (3)
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.
Recent Topics :
- LTCG - SEC54
- Foreign remittance from our client for Co Working
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
Related Topics :
CAclubindia
