Query regarding depreciation as per it act

I am handling a project in which following abstract of data is and my query is regarding DEPRECIATION as per INCOME TAX 

wdv of block of plant and machinery say- 2000 cr

Purchase during the year - 5000 cr (less than 182 days)

and Machinery sold during the year - 2500 cr

 

i am calculating depreciation as given below :-

                  WDV -                    2000

add:- Purchase-                  5000

less :- money payble :-       2500

wdv on dep to be calculated :-   4500 @ 7.5%(as asset purchase is less than 182 days)

Depreciation for the period = 337.5 cr

 

is this right Treatment as per INCOME TAX ACT. ???????

plz suggest me the absolute solution.............thx in advance ....

Replies (1)

Yes, your treatment is correct, it is called moneys receivable not payable.

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