Depreciation
This query is : Resolved
11 September 2010
In Books of Accounts furniture is written off at the end of year after charging depreciation. There is no sale of asset.
Please help on treatment of this in Income tax depreciation(Written of asset was only asset in block)
Op balance in books 12000
dep (Co.Act) 2400
Asset written off debited to P&L A/C 9600.
Op balance as per I.T. Act 8400
Please help on treatment of this in Income tax depreciation(Written of asset was only asset in block)
Op balance in books 12000
dep (Co.Act) 2400
Asset written off debited to P&L A/C 9600.
Op balance as per I.T. Act 8400
13 September 2010
8400/- can be treated as loss as the block ceases to exist.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Query Regarding on TDS section 194H and 194J
- Fixed Deposit Claim Relinquishment by the Nominee
- NR GST NUMBER
- ITR 6 Schedule CFL and UD Issues
- FREELANCING ACCOUNTANT
- GST Form ADT-02
- TCS ON SOFTWARE SALES
- From 15CA for remittance by domestic travel agent by to Foreign Destination Management Company.
- Not a CA , can we prepare balance sheet
- TDS RATE ON RENT PAID TO NRI
- Transferring CA articleship from old to new scheme of education and training
- GST Refund SB005 Error
- Notice u/s.148- Asstt.Year 2015-2016
- Invoice Numbers Wrongly Entered
- TDS on purchase of value vouchers for employees ?
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
