Loss on sale of car

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 December 2015 my company sale of a car on loss then what shall be tax treatment in income tax

CA R SEETHARAMAN (Expert)
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14 December 2015 Credit the sale value to the block of assets.

Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2015 if block does not exist and also single car is sold.

Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2015 if block does not exist and also single car is sold.

Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2015 if block does not exist and also single car is sold.

Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2015 if block does not exist and also single car is sold.

CA R SEETHARAMAN (Expert)
Follow

14 December 2015 Book the loss to P&L ac and it will be allowed under income tax.

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