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

Question

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

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Gross value of machinery and plant less accumulated depreciation

TuteeHUB · Answer

Value of all the assets after depreciation

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Value of all tangible assets after charging depreciation

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Value of all those assets to which one rate of depreciation is applicable

1.	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
D.	Gross value of machinery and plant less accumulated depreciation
Answer» D. Gross value of machinery and plant less accumulated depreciation

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