Sale of Laptop
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 August 2010
We have sold a laptop for Cash Rs.9600/- which had a book value Rs.6678/- as on date of Sale. My question is as follows
1) Will it attracts vat on sale of asset.
2) What will be the accounting entries.
3) Any approval to be enclosed with the receipt.
1) Will it attracts vat on sale of asset.
2) What will be the accounting entries.
3) Any approval to be enclosed with the receipt.
02 August 2010
1. Yes, VAT will attract VAT on sale of computer.
2. Cash DR. 9600/- plus VAT
To Computer 6678/-
TO Profit on sale 2922/-
To VAT Payable VAT
3. what kind of approval you want to enclosed.
as per my knowledge , there is not requiremnt of any approval fo sale of laptop
2. Cash DR. 9600/- plus VAT
To Computer 6678/-
TO Profit on sale 2922/-
To VAT Payable VAT
3. what kind of approval you want to enclosed.
as per my knowledge , there is not requiremnt of any approval fo sale of laptop
Message likes :
1 times
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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- ITR-3 File/Error Found
- Difff in ais receipts and gst turnover
- ITR-Capital Gain
- Rental income of jointly held property
- Loss of interest in PF transfer from EPFO to Trust
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
