Sale of plant and machinery
This query is : Resolved
22 April 2022
Dear Sir/Madam,
in our company machinery purchased for Rs.65,09,029/- on 19.12.2018. and sold for Rs.30,16,000/- on 14.02.2022. kindly help for passing profit/loss on sale of machinery entries. Also help me in calculating depreciation (WDV/SLM)
Regards,
V.L.Murthy
in our company machinery purchased for Rs.65,09,029/- on 19.12.2018. and sold for Rs.30,16,000/- on 14.02.2022. kindly help for passing profit/loss on sale of machinery entries. Also help me in calculating depreciation (WDV/SLM)
Regards,
V.L.Murthy
24 April 2022
Calculate 15% wdv depreciation.
For the first year calculate 50% depreciation in view of usage less than 182 days.
Reduce wdv value from the sale value to calculate profit or loss on sale.
For the first year calculate 50% depreciation in view of usage less than 182 days.
Reduce wdv value from the sale value to calculate profit or loss on sale.
28 April 2022
sir, Thank you very much.
28 April 2022
You are welcome.......
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
