Block of asset
This query is : Open
Anmol Varma
(Querist)
20 September 2014
28/06/2013
Wdv Rs180000
sale of all machines in the blk Rs200000
purchase of machine 22/12/13 Rs200000
what will be closing value of blk before depreciation, and whether capital gain will arrise or not.??
ignore depreciation.
CA vandana goyal
(Expert)
20 September 2014
opnening wdv 180000
-sale 200000
+purchase 200000
__________ ______
closing balance 20000
no capital gain arises
-sale 200000
+purchase 200000
__________ ______
closing balance 20000
no capital gain arises
Message likes :
1 times
Anmol Varma
(Querist)
26 September 2014
Thanks for the reply, Ma'am, but m still confused, because books suggests that the block should be seen at the end of the year, but this is the case where block ceases during the year and then a new machine is purchased in the same block later on. Can anyone provide me any link where I can get any solved example of questions of such type, to have a proof of the same thing.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Intimation under section 245
- GST input credit on commercial property
- ETDS return q4 25-26
- Section 269ST applicability for capital introduced by partner to his partnership firm
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
