Treatment of Car written off



If a car value is reduced from balance sheet and the car is used for personal purpose then what wiĺ be the treatment when preparing computation of income?
 
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if the block ceases to exists then you need to assess the stcg/stcl.
if not then just show as a deletion from the block
 
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is the written off value to be charged to capital account or just to be reduced from balance sheet?
 
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just reduce from BS and transfer to capital account
 
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transfer to capital account? didnt get plz explain
 
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since you are selling but using the car for personal use, so while calculating profit/loss transfer the wdv of the car to capital account and by finding the market value if the car transfer the profit loss to Pand l as below

Capital Dr
to P&l
to Car

capital. Dr
p&l Dr
to car
 
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