Whether difference of rs. 66893/- between book value rs. 29471.94 and wdv 96364.94 in blockis taxab

MADHU MITTAL (DIRECTOR) (192 Points)

17 January 2019  
 

roc book value

 

wdv as per IT return

   

wdv/b.v as on 01.04.2016

29471.94

 

96364.94

   
           

sold during fy 2016-17

96364.94

 

96364.94

   
           

profit

-66893

 

0

   
           

 

Whether difference of Rs. 66893/- between book value Rs. 29471.94  and wdv 96364.94 in blockis taxable or not when there is no assests left in block and sale value of block assest is Rs. 96364.94. If taxable ok, if not taxable in ITR in Schedule BP from where to deduct Rs. 66893/- ? will it be written in capital gain column at A3b or at exmpt at 5 c i or somewhere else ?

 

CREDITS TO PROFIT AND LOSS ACCOUNT

 
       

1

Revenue from operations

   

2

Other income

   

iii

Profit on sale of fixed assets

iii

66893

       

45

Profit before taxes (42-43iii-44)

45

180295

       
       
       

Schedule BP

Computation of income from business or profession

   
       

1

Profit before tax as per profit and loss account (item 45 and 53d of Part A-P&L)

1

180295

 

please guide