Amit (.) (104 Points)27 September 2012
Ideally it should be shown as Negative iteem in other income schedule, refer TCS Accounts.... hope it will solve your problem
Depreciation and ammortization cost schedule
Manoj r u confident of your answer??
Replied 27 September 2012
It should b shown in head other expenses............and i am sure abt that
if th block is over then it is shown in others ,else deduct it from the block as we deduct th depriciation
@ Ankur, yes u r also correct, but the only point is, as per revised schedule VI profit on sale of Fixed asset should go to other income (i.e. it does not form part of EBIT), so in case of loss also it should not hit your EBIT, so for improving EBIT level you can show loss as negative figur under other income. Or other wise it will appear under other expenses.
@ manoj i m not being able to understnad you concept please explain
Hope this clarifies....
CA Nilamani Mohanty
Replied 29 September 2012
Other Expense is a suitable head for this sort of item
Replied 04 October 2012
loss is disallowed as per income tax but profit is allowed so it affects
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