The WDV of the block of asset of plant & machinery depreciated @ 15% as on 1st April, 2018 was of ₹13,50,000. Out of this block, one machine was sold 1st July, 2018 for ₹4,50,000 and a new machine of ₹7,50,000 was pu
CS Executive · Tax Laws · PYQS · December 2019
The WDV of the block of asset of plant & machinery depreciated @ 15% as on 1st April, 2018 was of ₹13,50,000. Out of this block, one machine was sold 1st July, 2018 for ₹4,50,000 and a new machine of ₹7,50,000 was purchased on 1st August, 2018 which could be put to use from 1st March, 2019. The amount of depreciation to be claimed on the block of plant & machinery in the computation of income for A.Y. 2019-20 shall be :
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax Act, 1961
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