If as per companies act depreciation schedule, opening block of gross asset is equal to depreciation block means net block is zero, then if any asset is purchased during the year then how depreciation will be provided.
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Depreciation
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Since the old block is nil, that is assets in that block has been depreciated fully hence, you will have to provide depreciation only for the new asset purchased, as per the policy (i.e, WDV, SLM) of the company.
ya agree wid manish since the block is not exist hence depreciation cannot be claimed thereon now..
No its not like that, you cannot depreciate a asset @ 100%, unless it is a fully depreciable asset, you should provide deprecation at the prescribed rates,
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