Depreciation as per income tax act
This query is : Resolved
08 September 2015
CAN ANYONE PLZ HELP TO CLEAR FOLLOWING QUERY?
WHAT VALUE IS TO BE SHOWN AS DEDUCTION FOR CALCULATING DEPRECIATION AS PER INCOME TAX ACT IF AN ASSET IS SOLD AND THE OPENING VALUE AS PER INCOME TAX ACT & COMPANIES ACT ARE DIFFERENT.
WHAT VALUE IS TO BE SHOWN AS DEDUCTION FOR CALCULATING DEPRECIATION AS PER INCOME TAX ACT IF AN ASSET IS SOLD AND THE OPENING VALUE AS PER INCOME TAX ACT & COMPANIES ACT ARE DIFFERENT.
08 September 2015
Actual sale value to be indicate for deduction for both in IT and books
09 September 2015
SIR, BUT THERE IS DIFFERENCE OF MORE AMOUNT WHICH LEADS US TOWARD CAPITAL GAIN.
SHALL WE HAVE TO PAY CAPITAL GAIN ALSO IN SUCH CASE ?
SHALL WE HAVE TO PAY CAPITAL GAIN ALSO IN SUCH CASE ?
02 October 2021
Calculate CG, if any based on opening value as per IT act.
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