Fixed assets
This query is : Resolved
03 August 2013
DEAR SIR,
WE HAVE PURCHASE A CAR IN F.Y 2000-2001 FOR RS. 322226/- AND CLAIM THE DEPRECIATION 10% ON IT BUT NEXT F.YEARS 2002 TO TILL DATE I CANOT TAKEN THE DEPRECIATION IN BOOKS AND CAR SOLD IN F.Y.2012-2013 OF RS.44000/- HOW CAN SHOWN THE ENTRIES IN BOOKS IN F.Y 2012-2013 AND BALANCE SHEET.
WE HAVE PURCHASE A CAR IN F.Y 2000-2001 FOR RS. 322226/- AND CLAIM THE DEPRECIATION 10% ON IT BUT NEXT F.YEARS 2002 TO TILL DATE I CANOT TAKEN THE DEPRECIATION IN BOOKS AND CAR SOLD IN F.Y.2012-2013 OF RS.44000/- HOW CAN SHOWN THE ENTRIES IN BOOKS IN F.Y 2012-2013 AND BALANCE SHEET.
03 August 2013
calculate the wdv as on the date of sale after chg depn for all the years it was used and finally deduct this from sale value.
if sale value is more then wdv = profit then it will be credited to profit and loss a/c else it will be loss and debit loss to p&l a/c.
if sale value is more then wdv = profit then it will be credited to profit and loss a/c else it will be loss and debit loss to p&l a/c.
03 August 2013
TOTAL DEP. UPTO DATE RS.205000/- WHAT INCOME TAX DISALLOW THIS DEP. OR NOT
03 August 2013
for income tax purpose u need to take depn as per income tax act.
03 August 2013
THIS ANS IS NOT CLEAR.
DEP. DISALLOW OR NOT BY DEPARTMENT
DEP. DISALLOW OR NOT BY DEPARTMENT
03 August 2013
you need to charge depreciation as per income tax act for income tax calculation then only it is allowed.
06 August 2013
DEAR SIR,
I WANT TO PERFORMA OF CIVIL SAMADHAN YOJNA IN UPVAT ACT
I WANT TO PERFORMA OF CIVIL SAMADHAN YOJNA IN UPVAT 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
- ITR -1 Filing
- TWO FIRM NAME IN ONE GST NUMBER
- Section 54 f disallowed will be taxed at what rate
- Transportation of Petrol, Diesel by GTA and Other than GTA
- Long term capital gain exemption on sale of mutual funds
- Eway issued more than one
- Transfer of rectification rights to ao
- Trust 10AB form required for old asst. years?
- TDS whether applicable or not in case of Flat purchase
- Share in property
- Gratuity payment criteria
- Procedure and Documents Required for Release of FD from DVAT
- How to rectify gstr1 credit note
- Non- payment of GST on supply of services- reg
- Other party gstin shown on my login id
- Accumulated surplus exceeding 15%
- Different GST Number MEESHO
- Query on TDS Section 194H
- Fees amount transfer procedure for two doctors
- Notice u/s 148 of IT Act
Trending Online Classes
CAclubindia
