Correct if I'm wrong:
Sec 50 - Income Tax Act
Block - Opening WDV : Building 1 - 300,000.00 / Building 2 - 600,000.00 / Building 3 - 1,00,00,000.00
Building 1 is sold for Rs.30,00,000.00
Calculation:
Opening WDV of the Block = Rs.109,00,000.00
Less : sale of building 1 = (Rs.30,00,000.00)
79,00,000.00
Less : Depreciaion @ 10% (7,90,000.00)
Closing WDV of the Block = 71,10,000.00
.
CAclubindia
