depreciation for sold car

323 views
User Avatar

ACCOUNTANT
2975 Points Posted on 24 July 2018
Dear Sir/Madam,

in fixed assets a car in the shedule 1st Apr Rs.224074 and its sold on 12/02/18...

Then how can I depreciate l...?
How to show nil value i. asset head of the car?
0 Reply Share Follow
On 24 July 2018 at 16:12 Report
Replies (3)
User Avatar

Chartered Accountant
12739 Points Posted on 24 July 2018

cost - dep = wdv of car 

wdv of car xxx

less; sale value xxx

net profit / loss xxx

Reply
On 24 July 2018 at 16:22
User Avatar

ACCOUNTANT
2975 Points Posted on 24 July 2018
thank you Mr Naveen,

Assessee is gst registered dealer the old car taken by Car dealer. Any gst applicable i. the sale of old car...
Reply
On 24 July 2018 at 16:24
User Avatar

Chartered Accountant
12739 Points Posted on 24 July 2018

GST NOT APPLICABLE ON SALE OF FIXED ASSETS (IT IS NOT IN OEDINERY COURSE OF BUSINESS)

Reply
On 24 July 2018 at 16:34

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Capital gains incidence due to bonus shares
  2. Amendment of Object Clause of Memorandum
  3. How Can I Request a Refund for an Accidental Airte
  4. TDS on salary paid in cash
  5. YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
  6. Last Date To Fill ITR For Non-Audit Case
  7. Guidance Required on Filing Fresh Registration und
  8. IT Return Refund Status AY 2026-27
  9. Clarification Regarding Income Tax Demand Notice
  10. Online PAN Download: Check How?

More recent discussions | Post

Related Topics :

Loading