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income tax

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(Querist)
28 September 2008 what will be the cost of acquisition of asset while calculating LTCG u/s 50A
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CMA Jitendra Singh

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CMA Jitendra Singh (Expert)
28 September 2008 Cost of Aquisition = WDV-Terminal Depreciation+balancing charges

Terminal Depreciation =WDV of assete in First day of year in which discarded-Sale consideration +scrap value

(Only positive figure )

Balancing Charge = if termianl balance is negative figure (so formula is same)
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CA Gaurav Gupta

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CA Gaurav Gupta (Querist)
28 September 2008 sir
if there will be terminal dep there will be no balancing charge or vice verca.
please explain with the help of a practical example.
thankyou
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CMA Jitendra Singh

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CMA Jitendra Singh (Expert)
29 September 2008 Yes ,u are correct ,being free from 30 th Sep deadline ,I will explain u in detail
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CA Gaurav Gupta

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CA Gaurav Gupta (Querist)
13 October 2008 sir now if u r free
plz explain the above ques with practical example.
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