Calculation of depreciation & capital gain
This query is : Resolved
Hemchand Kohli
(Querist)
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
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
(Expert)
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 .
Depreciation=(189000+630000+500000-Sales Price)*.15
As the Block exists evenafter sale of one Car, no capital gains will arise .
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