Any asset, on which depreciation is claimed on the basis of Straight Line Method (SLM) is sold and the amount by which money payable together with scrap value, fall short of the Written Down Value (WDV) of such asset, the amount of such deficiency in value of the asset is allowed to be written off in the year of sale as

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Question:Any asset, on which depreciation is claimed on the basis of Straight Line Method (SLM) is sold and the amount by which money payable together with scrap value, fall short of the Written Down Value (WDV) of such asset, the amount of such deficiency in value of the asset is allowed to be written off in the year of sale as

1.Balancing charge

2. Terminal depreciation

3.Loss on sale of an asset

4.Residual value of asset

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  1. Any asset, on which depreciation is claimed on the basis of Straight Line Method (SLM) is sold and the amount by which money payable together with scrap value, fall short of the Written Down Value (WDV) of such asset, the amount of such deficiency in value of the asset is allowed to be written off in the year of sale as
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