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Depreciation
On 1-4-13 opg 15% block wdv 10 lakh & New Assets acquired on.5/09/13) at Rs.200000/- But it put to use on 4-5-2014 (fy 2014-15) &sale of old assets at rs 1100000/- on dated 6/09/2013 now Whats depreciation in 2013-14??
Is new assts add in block 15% in cy ?
Replies (5)
Cost of new assets purchased will be added to 15% block but no dep . will be charged for FY 2013-14 because it would put to use in FY 2014-15.
yaa but sale is 11lakh...
Is excess 1 lakh deducted from new assts value which i bought??
yes excess Rs. 1 lac will be deducted from block and closing value of block would be 1 lac
Sale if at 1500000/- Rs
result Stcg
no block value at end?
Rupesh
i withdraw my all previous answers for this query. new answers is as follows:
1. first of all you should claim dep on remaining value of Rs. 1 Lac irrespective of fact that new assets put to use in next financial year.
(CIT V. OSWAL AGRO MILLS LTD (2012)
next if you sold old assets in 15 Lac than stcg will be 3 lac. and closing wdv will be nil and no dep.
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