Company a/c
This query is : Resolved
amol atkar
(Querist)
21 December 2013
good afternoon
pl'z guide me
a company purchase property in 2009 rs.72 Lac & sold out 2013 at rs.1 crore & we deduct depriciation every year 10%. how can i give entry in accounts of sale of building
pl'z guide me
a company purchase property in 2009 rs.72 Lac & sold out 2013 at rs.1 crore & we deduct depriciation every year 10%. how can i give entry in accounts of sale of building
Nikhil Kaushik
(Expert)
21 December 2013
transfer the WDV to disposal account. credit the disposal account with Rs 1 cr. Transfer the net balance to profit and loss account. (Please note that it is the accounting treatment). tax treatment will differ.
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