banner_ad

Book value

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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?
Profile Image

Soumitra Basu

Profile Image

Soumitra Basu (Expert)
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


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details