Book value
This query is : Resolved
11 May 2015
Hello.
You are kindly requested to help me in calculation of book value of all fixed assets in order to evade maximum income taxes. Actually i belong to lare manufacturing industry firm which posseses number of fixed assets, and among them we disposed assets viz vehicles, and at the end of financial year, we came to know that there has been a capital gain over these assets as the book value furnished to sales tax was quite less. Please tell the procedure how to keep check over this in near future and with what method to calculate book value?
21 June 2015
DO NOT TRY TO EVADE TAX. TRY TO PLAN THE AFFAIRS AS YOU CAN AVOID TAX. THERE ARE LOT OF PROCEDURES. ONE SUCH IS PURCHASE AN ASSETS UNDER THE SAME RATE OF DEPRECIATION ON THAT FINANCIAL YEAR IN WHICH YOU SOLD THE ASSET.
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- Can partnership firm show income under 44ad
- Banking Related Issue
- Rental income of jointly held property
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
