Loss on plant and machine sold. how to claimed depreciation and when can we saw in itr3
This query is : Resolved
18 December 2021
I HAVE SOLD MACHINE. WDV OF MACHINE IS 1094800 AND SALE VALUE 725000. IT WAS CAPITAL LOSS? IF YES THAN HOW CAN I CALCULATE DEPRICIATION ON MY REST OF MACHINERY AND WHERE WE SAW IN ITR-3. PLEASE GUIDE US.
18 December 2021
Credit the sale value to the rest of the machinery and depreciate it based on block of assets concept.
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