Wdv u/s 32 pgbp

Its income tax ..... Single asset concept was abolished since AY 1987-88 and hence when u purchase an asset, at the end of d year while computing your tax liability the asset so purchased added to block of assets on d basis of its rate of dep.

So my point is make a distinction between the purchase price of the asset (X) and wdv of the block. Hence WDV of the block is 120,000as per section 43(6)(on which dep will be allowed) irrespective of the cost price of Asset.

If the asset would have sold for more than 150,000 than the WDV of Asset will be NIL irrespective of Purchase of Asset for Rs 100,000.

Debates if any is invited....

thank u all for ur replies...
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 ?