Fixed Asset Orginal Cost = Rs.2,00,000 (Pur Date 01/03/2010, Dep 40% )
Depr for 10-11 is 200000*(31/365)*40% = 6795
Net Block on 31.03.2010 is Rs.1,93,205
Asset is sold for Value Rs.5,00,000 on 01/06/2010
What is profit as per Companies Act ????
can i consider dep for 01/04/2010 - 31/05/2010 period or not ???
Yes, you can claim depreciation for the part of the financial year 2011-12
BHUPINDER SHAH AND COMPANY
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