Capital gain on depreciable assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 May 2013
Dear Experts,
Comapny has sold the depreciable asset(car) during FY 12-13 for Rs 25 lacs whose WDV on 1apr'12 was Rs 58 lacs . Opening WDV of Block of asset was Rs 94 . Depreciation is @15%.
No assets were purchased during 12-13, assets sold was only above i.e Rs 25 lacs (wdv 58 lacs as said above)
Now my question is how do i calculate depreciation on above block is it @15 on (94-25)=69,?
How much would be STCG? any otehr effects would come.
Comapny has sold the depreciable asset(car) during FY 12-13 for Rs 25 lacs whose WDV on 1apr'12 was Rs 58 lacs . Opening WDV of Block of asset was Rs 94 . Depreciation is @15%.
No assets were purchased during 12-13, assets sold was only above i.e Rs 25 lacs (wdv 58 lacs as said above)
Now my question is how do i calculate depreciation on above block is it @15 on (94-25)=69,?
How much would be STCG? any otehr effects would come.
21 May 2013
in this case no STCG... because block of assets is still in existence
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