Question ID :
29575
Depreciation
A Company has discarded some assets. It has not sold but only scrapped. Whether the WDV of these assets has to be deducted from while calculating depreciation under IT Act? Sec.32(1)(iii) stipulates it. Under IT Act, individual assets WDV may not be available as it forms part of block. What treatment to be given in respect of discarded assets under IT Block?
posted by
balasubramanian
on
Apr 17 2018 12:00AM