25 November 2013
If he sales his goods vehicle and there remains no other vehicle - the gain or loss arising will be short term capital gain or loss. Its cost of acquisition will be WDV. WDV will be calculated by taking into consideration depreciation whether claimed or not. . In case there are more than one goods vehicle, the Sales Consideration will be credited to the block. . Refer Section 50 for more details.
26 November 2013
suppose he is has 4 vehicles In last Year and wdv of that block in current year on last date was 1200000now selling on of those in 8000000 then how to calculate capital gain
26 November 2013
"suppose he is has 4 vehicles In last Year and wdv of that block in current year on last date was 1200000now selling on of those in 8000000 then how to calculate capital gain" . Capital Gains = Sales Consideration-Cost of acquisition or =80,00,000-12,00,000 or = 68,00,000 .
Querist :
Anonymous
Querist :
Anonymous
(Querist)
27 November 2013
Whether Truck is Capital assests For Transporter.
27 November 2013
Yes. Truck is a capital asset for a transporter of goods. . Truck is not a capital asset for the company manufacturing trucks, or selling trucks as goods. .
Querist :
Anonymous
Querist :
Anonymous
(Querist)
27 November 2013
Thanks for Ur Kind Information Actually i am Preparing An ITR In which He Sold a Vehicle which was purchased before 44 Monbth of sale in instalment So i am little bit Confused how to calculate Cost of acquisition in this cases