Depreciation as per income tax act
This query is : Resolved
Pratima Pandey
(Querist)
08 September 2015
CAN ANYONE PLZ HELP TO CLEAR FOLLOWING QUERY?
WHAT VALUE IS TO BE SHOWN AS DEDUCTION FOR CALCULATING DEPRECIATION AS PER INCOME TAX ACT IF AN ASSET IS SOLD AND THE OPENING VALUE AS PER INCOME TAX ACT & COMPANIES ACT ARE DIFFERENT.
WHAT VALUE IS TO BE SHOWN AS DEDUCTION FOR CALCULATING DEPRECIATION AS PER INCOME TAX ACT IF AN ASSET IS SOLD AND THE OPENING VALUE AS PER INCOME TAX ACT & COMPANIES ACT ARE DIFFERENT.
Dintakurthi Tirumala
(Expert)
08 September 2015
Actual sale value to be indicate for deduction for both in IT and books
Pratima Pandey
(Querist)
09 September 2015
SIR, BUT THERE IS DIFFERENCE OF MORE AMOUNT WHICH LEADS US TOWARD CAPITAL GAIN.
SHALL WE HAVE TO PAY CAPITAL GAIN ALSO IN SUCH CASE ?
SHALL WE HAVE TO PAY CAPITAL GAIN ALSO IN SUCH CASE ?
Dhirajlal Rambhia
(Expert)
02 October 2021
Calculate CG, if any based on opening value as per IT act.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- MSME disclosure and disallowance
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
