Calculation of depreciation & capital gain

Save Share

This query is : Resolved

Hemchand Kohli (Querist)
Follow

17 December 2011 Gross Block as on 01/04/2011 are as under:

Car Esteem 1,89000.00
Car Dzire 6,30000.00
Car Honda 5,00000.00

During the year Esteem was sold150,000.00 please help how calculate depreciation and gain/loss

second case Suppose esteem sold 200,000.00 depreciation @ 15%

Thanks

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

18 December 2011 From the Gross Block , Deduct Sales Price of Esteem Car. On the Balance of WDV provide Depreciation @ 15%.
Depreciation=(189000+630000+500000-Sales Price)*.15
As the Block exists evenafter sale of one Car, no capital gains will arise .

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now