Profit on sale of depreciable assets
This query is : Resolved
21 April 2015
What to do...when profit arise on sale of depreciable asset....and block is also exist after sale of some assets......should i take profit in computation or P&L????
21 April 2015
Sale value has to be reduced from the block value for tax computation. In the accounts profit or loss on sale has to be taken to P&L after removing assets from the books of accounts.
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