The assessee had a block of Asset consisting of Plant X, plant Y and plant Z with a w.d.v. on 1.4.2019 ₹ 6,00,000 and rate of depreciation @ 20%. The plant X was sold during the year for ₹ 50,000, Y for t 1,20,000 and Z for ₹ 2,30,000. The depreciation for the A.Y. 2020-21 will be:
A. ₹ 40,000
B. Nil
C. ₹ 1,20,000
D. ₹ 60,000
Answer:B
The assessee had a block of Asset consisting of Plant X, plant Y and plant Z with a w.d.v. on 1.4.2019 ₹ 6,00,000 and rate of depreciation @ 20%. The plant X was sold during the year for ₹ 50,000, Y for t 1,20,000 and Z for ₹ 2,30,000. The depreciation for the A.Y. 2020-21 will be:
A. ₹ 40,000 B. Nil C. ₹ 1,20,000 D. ₹ 60,000