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Depreciation on Plant and Machinery in same year

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32 Points Posted on 02 January 2019

if i purchase a plant & machinery in P.Y. 2018-19 and put to use in P.Y. 2019-20.
and sold P&M in same P.Y. (19-20)

how much dep. is allowed ?

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On 02 January 2019 at 16:58 Report
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CA Finalist| Cleared G-2| Life Coach
65 Points Posted on 02 January 2019
no depreciation would be allowed...
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On 02 January 2019 at 18:20
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article
80 Points Posted on 02 January 2019
directly calculate stcg
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On 02 January 2019 at 19:49
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Practicing CA
1225 Points Posted on 02 January 2019
depreciation would not be allowed in the year 18-19, for the year 19-20 depreciation will not be allowed as the block ceased to exist there will be stcg as per sec 50
9 Reply
On 02 January 2019 at 22:21
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Passed cpt
99 Points Posted on 03 January 2019
no depreciation will be allowed if you sale in same p.y and gain will be stcg .
1 Reply
On 03 January 2019 at 18:54


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