Ramson Industries acquired a factory building for self use in November, 2015. The value of land underneath the building was ₹5 lakh and value of building was ₹10 lakh. The amount of eligible depreciation allowable for as
CS Executive · Tax Laws and Practice · PYQS · June 2016
Ramson Industries acquired a factory building for self use in November, 2015. The value of land underneath the building was ₹5 lakh and value of building was ₹10 lakh. The amount of eligible depreciation allowable for assessment year 2016-17 is —
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D). Official source note: Ramson Industries acquired a factory building for self use in November, 2015. The value of land underneath the building was ₹ 5 lakh and value of building was ₹ 10 lakh. The amount of eligible depreciation allowable for assessment year 2016-17 is — (A) ₹ 1,50,000 (B) ₹ 25,000 (C) ₹ 1,00,000 (D) ₹ 50,000 61
Topics: Income Tax
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