21 August 2013
Pls any one help on in Depreciation calculation as per IT If 15% asset is purchased on Jan-13 and Sold on Mar- 13 need to calculation Depreciation (7.5%) on this asset as per IT Act..?
I Taken Either LIFO or FIFO Closing Balance is not maching individual asset in Same Block...?
Pls any one Give solution to me Roopesh2speed@gmail.com or 7899937604
22 August 2013
if asset is sold at loss then on tht part 7.5% shall be allowed. if it is sold at profit nothing to be done. for calculation of clg value use- opening wdv+purchase-sale.
CAclubindia
