Items like MODEMS have since been rendered as obsolete before completing their useful life and these are being carried at their book value. However, it is clear that these are of no use any more. How the same should be dealt with in accounts and what are the implications in Income Tax and Companies Act.
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Discarding of Fixed Assets
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You can write off the WDV of assets dicarded in the accounts. For getting incometax benefit you have to actually sell them.
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