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
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
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