alleryStart learning →If that revalued item is sold at Rs. 150 and only the Rs. 30 tax depreciation is taxable at 30%, the liability is:
ARs. 24
BRs. 15
CRs. 9
DRs. 45
Answer & Solution
Correct answer: C. Rs. 9
Only the cumulative depreciation of Rs. 30 is taxed on sale, so the liability is 30 at 30% = Rs. 9.
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