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I need the answer as soon as possible In the year ended 31 December 2016, D Limited acquired a non-current asset at a cost of
I need the answer as soon as possible
In the year ended 31 December 2016, D Limited acquired a non-current asset at a cost of Rs. 100,000. The asset is to be depreciated on a straight line basis over its useful life of 5 years. The asset falls outside the tax system. Depreciation is not allowable for tax purposes and there is no tax deductible equivalent. Any gain on disposal is not taxable and any loss on disposal not taxable. The relevant tax rate is 30%. In the year ended 31 December 2016, D Limited acquired a non-current asset at a cost of Rs. 100,000. The asset is to be depreciated on a straight line basis over its useful life of 5 years. The asset falls outside the tax system. Depreciation is not allowable for tax purposes and there is no tax deductible equivalent. Any gain on disposal is not taxable and any loss on disposal not taxable. The relevant tax rate is 30%Step by Step Solution
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