..... My company has a block of assets carrying 15% rate of depreciation, whose written down value on 01.04.2017 was ` 40 lacs. I purchased another asset (second-hand plant and machinery) of the same block on 01.11.2017 for ` 14.60 lacs and put to use on the same day. Said company was amalgamated with Shirdi Ltd. with effect from 01.01.2018. How much will be the depreciation allowable to both companies for the previous year ended on 31.03.2018 assuming that the assets were transferred to Shirdi Ltd. at ` 60 lacs.
Dec. 08, 2017