loss sale of fixed assets
This query is : Resolved
16 September 2009
one of my client closing their patnership firm, they sold their entire fixed assets
ther is loss in sale of F.A.
Is loss on f.a. sold adjusted against profit of the firm
because the firm dissolve ther patnership in current year only
then how can the loss will be carry forward
is any solution is ther please send me urgently with section details.
ther is loss in sale of F.A.
Is loss on f.a. sold adjusted against profit of the firm
because the firm dissolve ther patnership in current year only
then how can the loss will be carry forward
is any solution is ther please send me urgently with section details.
17 September 2009
Since it is FA sold where depreciation had been charged in the previous years. You can show the loss on sal of FA and adjust the same against Profit for the year .. against all business profit .. from other sources if the above two are falling short
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- TDS Deducted AY-2013-14 Not Reflected in 26as
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Eway bill not cancelled within 24 hous what can be due
- Filling ITR - U
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
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
