Loss in sale of assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 May 2016
Hello Experts,
Our block WDV was 734670/- as on
1/4/2015 but one asset (car) sold on
7/11/2015 Rs. 150000/- however this car
Wdv was 196768/- as on 1/4/2015 hence
the loss of 46768, please tell me on which
amount dep. Will be charge,
Regard
Ankit jaiswal
Our block WDV was 734670/- as on
1/4/2015 but one asset (car) sold on
7/11/2015 Rs. 150000/- however this car
Wdv was 196768/- as on 1/4/2015 hence
the loss of 46768, please tell me on which
amount dep. Will be charge,
Regard
Ankit jaiswal
CA Darshan
(Expert)
07 May 2016
As per Income Tax, In block of asset method u need to charge depreciation on Block of Asset. I.e. 734670-150000=584670
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Issuing of delivery challan by seller of goods
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- 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?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
