Vaibhav, deriving business income, owns a car whose WDV as on 1st April, 2013 was ₹3,00,000. This is the only asset in the block of assets with rate of 15%. It is estimated that one-third of the total usage of the car is
CS Executive · Tax Laws and Practice · PYQS · June 2015
Vaibhav, deriving business income, owns a car whose WDV as on 1st April, 2013 was ₹3,00,000. This is the only asset in the block of assets with rate of 15%. It is estimated that one-third of the total usage of the car is for personal use in both years. The WDV of the block of assets as on 31st March, 2015 would be
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
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