On 1st July, 2020 Aqua Ltd purchased Machinery of ₹4,00,000. Depreciation is to be charged @10% p.a by diminishing balance method. What amount of depreciation will be charged for the year ending March 31, 2021?
(a) ₹40,000
(b) ₹20,000
(c) ₹30,000
(d) ₹70,000
(c) ₹30,000