Zed Ltd., a domestic company engaged in manufacturing activity in Mumbai acquired a plant for ₹ 5 lakh on 7th January 2021 which is eligible for depreciation @ 1596. It paid ₹ 4 lakh through the ECS system from the bank and balance ₹ 1 lakh in cash on 23rd February 2021. The plant was put to use on 12.3.2021. The amount of depreciation (normal and additional) on this plant for AY 2021-22 shall be:

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Question:Zed Ltd., a domestic company engaged in manufacturing activity in Mumbai acquired a plant for ₹ 5 lakh on 7th January 2021 which is eligible for depreciation @ 1596. It paid ₹ 4 lakh through the ECS system from the bank and balance ₹ 1 lakh in cash on 23rd February 2021. The plant was put to use on 12.3.2021. The amount of depreciation (normal and additional) on this plant for AY 2021-22 shall be:

1.₹ 40,000

2. ₹ 30,000

3.₹ 70,000

4.₹ 60,000

Posted by R4R Team
  1. Zed Ltd., a domestic company engaged in manufacturing activity in Mumbai acquired a plant for ₹ 5 lakh on 7th January 2021 which is eligible for depreciation @ 1596. It paid ₹ 4 lakh through the ECS system from the bank and balance ₹ 1 lakh in cash on 23rd February 2021. The plant was put to use on 12.3.2021. The amount of depreciation (normal and additional) on this plant for AY 2021-22 shall be:
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