income tax
This query is : Resolved
CA Gaurav Gupta
(Querist)
28 September 2008
what will be the cost of acquisition of asset while calculating LTCG u/s 50A
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)
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)
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
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
CMA Jitendra Singh
(Expert)
29 September 2008
Yes ,u are correct ,being free from 30 th Sep deadline ,I will explain u in detail
CA Gaurav Gupta
(Querist)
13 October 2008
sir now if u r free
plz explain the above ques with practical example.
plz explain the above ques with practical example.
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- Working on Gold wastage during Melting of old gold jewellery
- GSTR-9C filing
- TDS on Dashcam rent and allied services
- Import Order Cancelled.
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Form 144 TDS Return Validation Error – Mandatory Fields
- Capital gains in IT returns
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- 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
- Tally: Imported bank entries do not show up in manual reconciliation
- 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?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
