Block of asset
This query is : Open
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.
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
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.
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