Opening WDV of Car: Rs.4,10,143/-
Sale Consideration ( 24/11/2016) : Rs. 5,00,000/-
Depreciation has been charged on car in Prevous financial years.
What will be the tax treatment of the above transaction reagrding capital gain and disclosure in financial statements?
Note: Assesse has purchased some new assets (Medical Equipments, instruments ,etc) during year on 01.11.2017. Will it make any difference on tax treatment?
CAclubindia
