Dep problem

261 views 1 replies

Problems on dep.

RPS LTD furnishes the following details  in respect of block of assets (60% rate of dep.)

A )WDV on 1-4-2014 consisting of 5 machines RS 25,00,000

B)ASSET ACQUIRED DURING THE YEAR IS RS 10,50,000

COMPUTE WDV OR CAPITAL GAIN  OR LOSS IN FOLLOWNG CASES FOR P.Y 14-15

I)3 MACHINES HAVE BEEN SOLD DURING THE YEAR RS 20,50,000

II)Entire block sold during the year for RS 30,00,000

III) Entire block sold during the year for RS 45,00,000

 

PLS HELP ME IN THIS REGARD....

Replies (1)

1. Only portion of assets are sold from the block, then need not to calculate the capital gains & on the balance WDV after deducting the sales consideration, depriciation can be claimed

2. If the entire block is sold, then (WDV - sales consideration) needs to be considered as STCG.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details