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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Depreciation on Plant and Machinery in same year
Replies (4)
no depreciation would be allowed...
directly calculate stcg
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
no depreciation will be allowed if you sale in same p.y and gain will be stcg .
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