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Commerce · Q33

Income Tax and Corporate Tax

Graduate and Post Graduate · Commerce · question 33

Q33

Under the Income Tax Act, 1961 "block of assets" for the purpose of charging depreciation means:

A.
Value of all the assets after depreciation
B.
Value of all tangible assets after charging depreciation
C.
Value of all those assets to which one rate of depreciation is applicable
Answer
D.
Gross value of machinery and plant less accumulated depreciation

Answer: Option C

Solution

Answer: Option C
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