Dep
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 May 2016
Problems on dep.
RPS LTD furnishes the following details in respect of block of assets (60% rate of dep.)
A )WDV on 1-4-2014 consisting of 5 machines RS 25,00,000
B)ASSET ACQUIRED DURING THE YEAR IS RS 10,50,000
COMPUTE WDV OR CAPITAL GAIN OR LOSS IN FOLLOWNG CASES FOR P.Y 14-15
I)3 MACHINES HAVE BEEN SOLD DURING THE YEAR RS 20,50,000
II)Entire block sold during the year for RS 30,00,000
III) Entire block sold during the year for RS 45,00,000
PLS HELP ME IN THIS REGARD....
RPS LTD furnishes the following details in respect of block of assets (60% rate of dep.)
A )WDV on 1-4-2014 consisting of 5 machines RS 25,00,000
B)ASSET ACQUIRED DURING THE YEAR IS RS 10,50,000
COMPUTE WDV OR CAPITAL GAIN OR LOSS IN FOLLOWNG CASES FOR P.Y 14-15
I)3 MACHINES HAVE BEEN SOLD DURING THE YEAR RS 20,50,000
II)Entire block sold during the year for RS 30,00,000
III) Entire block sold during the year for RS 45,00,000
PLS HELP ME IN THIS REGARD....
25 May 2016
I) charge depreciation on (25,00,000+10,50,000-20,50,000 = 15,00,000)
II) short term capital loss = (25,00,000+10,50,000-30,00,000) = 5,50,000
III) short term capital gain = (25,00,000+10,50,000 - 45,00,000) = 9,50,000
II) short term capital loss = (25,00,000+10,50,000-30,00,000) = 5,50,000
III) short term capital gain = (25,00,000+10,50,000 - 45,00,000) = 9,50,000
Message likes :
1 times
25 May 2016
as per inocme tax act block value find as below
opening bal.+buying during the year -sold during the year = balance take depreciation
1) dereciation on the bal
2)Short term loss
3) short term capital gain
opening bal.+buying during the year -sold during the year = balance take depreciation
1) dereciation on the bal
2)Short term loss
3) short term capital gain
Message likes :
1 times
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