hello everyone..
can anybody please help me with calculation of wdv as per sec 32 ?
eg. if a block of machinery having two machines A and B of opening wdv 50,000
machine X purchased during the year for rs 1,00,000.
machinery A and B sold during the year for rs 30,000.
so my question is whether the closing wdv of 1,20,000 ( 50000+100000-30000) will be considered as wdv of machine X ,though it had been purchased for rs 100000 (as machine A and B has been sold).
i have one more question, what if the same machine X is put to use on 1 jan 2013, i.e it is put to use for less than 180 days, so my query is whether deprication will be provided at the half rate for whole of the amount that is 120000 or it will be for 100000 ?
plz help.
CAclubindia
