About fixed asset resale

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Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2015 i have purchase machinery worth rupees 500000 And Capitalized in My Unit After Two Month I have Transfer Machine to my other Unit So Can I book Profit on us???

Amol S Joglekar

Amol S Joglekar (Expert)
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31 December 2015 at what price did you transfer? And note that machine can NOT be sold to ourself.
If the 2 units you are referring are 2 distinct ENTITY, then you can do that.

Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2015 amount is 470000 and transfer my depot

Amol S Joglekar

Amol S Joglekar (Expert)
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31 December 2015 for internal control you can pass the entry. But the depot is of your own company, so no need to book loss

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