DEPRECIATION ON DISPOSED OFF VEHICLES
This query is : Resolved
10 September 2025
Dear Sir/Madam,
If commercial vehicle sold during the year
1) Depreciation is claimble or difference amount (opening - sale vale) be transferred to profit & loss account
or
2) After depreciation balance amount be transferred to P&L account.
Thanks & Regards
If commercial vehicle sold during the year
1) Depreciation is claimble or difference amount (opening - sale vale) be transferred to profit & loss account
or
2) After depreciation balance amount be transferred to P&L account.
Thanks & Regards
10 September 2025
2) ........
When a commercial vehicle is sold during the year, depreciation on the asset can be claimed up to the date of sale, and then the remaining written down value after depreciation (the difference between opening value and sale value) is transferred to the profit & loss (P&L) account as a gain or loss on sale of asset.
When a commercial vehicle is sold during the year, depreciation on the asset can be claimed up to the date of sale, and then the remaining written down value after depreciation (the difference between opening value and sale value) is transferred to the profit & loss (P&L) account as a gain or loss on sale of asset.
19 September 2025
Good Luck...
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