Question: thanks Chegg expert for erlier answer, please solve this one according to Indian Income tax Act,1961 ameshwarm after purchase put to use on 15-12-2015 a

thanks Chegg expert for erlier answer, please solve this one according to Indian Income tax Act,1961
ameshwarm" after purchase put to use on 15-12-2015 a 3.00,000 which is eligible for depreciation @ 15% under the Act. He sold this machine to "Ganesham" on 01-12-2016 for 3,20,000 (FMV on that date was 2,50,000), who after having used the machine for his business purposes again sold it back to "Rameshwaram" on 15-11-2017 for 3,10,000. Compute the amount of allowable depreciation and of chargeable capital gain, if any, for A.Y.s 2016-17 to 2018-19 assuming that this was the only machine in the block machine worth? of asset held by both the "Rameshwaram" and "Ganesham
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