The W.D.V. of a block (Plant and Machinery, rate of depreciation 15%) as on 1.4.2020 is ₹5,00,000. A second hand machinery costing ₹1,00,000 was acquired on 15.11.2020 through account payee cheque but put to use on 01.12
CS Executive · Tax Laws · PYQS · December 2021
The W.D.V. of a block (Plant and Machinery, rate of depreciation 15%) as on 1.4.2020 is ₹5,00,000. A second hand machinery costing ₹1,00,000 was acquired on 15.11.2020 through account payee cheque but put to use on 01.12.2020. Part of this block was sold for ₹3,00,000 on 05.01.2021. The depreciation allowable as per section 32 of the Act for A.Y. 2021-22 would be:
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax Act, 1961
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