Accounting treatment
This query is : Resolved
Sonika Dey
(Querist)
06 December 2013
if Purchase price of asset =50000
its wdv= 30000
sold at 80000
revenue profit = 20000
Capital profit = 30000
i want to know the treatment for capital profit
its wdv= 30000
sold at 80000
revenue profit = 20000
Capital profit = 30000
i want to know the treatment for capital profit
CMA Ramesh Krishnan
(Expert)
06 December 2013
there is no concept of capital profit in case of sale of fixed asset. it is normal profit on sale of fixed asset, need to be show as income
Annu Agarwal
(Expert)
06 December 2013
Agreed with expert.
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