Economics · Income Tax and Corporate Tax Planning
Sequence the steps for computing depreciation for a block of assets under "Income from Business and Profession" as per the Income Tax Act: (A) The written down value of each block as on the last day of the previous year (before depreciation) (B) Find the written down value of each block at the beginning of the year (C) Deduct the money received along with scrap value, if any, in respect of the assets in the same blocks which are sold/discarded during the year (D) Add the actual cost of assets acquired during the year in the respective blocks Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(D), (B), (C), (A)
- 2(A), (B), (D), (C)
- 3(B), (D), (C), (A)✓
- 4(A), (B), (C), (D)
Correct answer
(B), (D), (C), (A)
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