After depreciation my rate of Car amount stand Rs 250000,i have sold it for rs 450000. Where to show this excess Rs 2lac. can I show it in capital A/c. Please suggest.
29 December 2018
If depreciation is claimed in p and l account show it in p and l account. In case of depreciation not claimed show it in capital account.
29 December 2018
Sir Car is shown under the Head of FIXED ASSET in Balance sheet. Amounting Rs 2.5lack, now i sold it for 4.5lack , there excess amount of 2lac where it has to be shown.
CAclubindia
