03 November 2017
I have a problem while filling ITR. I have 2 assets in my book. There opening WDV as on 01/04/2016 is Rs. 23263(11492+11771).Depreciation rate is 15. One of the assets of WDV Rs. 11492 is sold on 31/03/2017 for rs 5000 & another assets of same kind is purchased in Nov 2016 say for Rs. 10000. What depreciation value & closing WDV shall be shown in excel sheet as well as in ITR. Whether dep shall be Rs 4240 (1724+750+1766) or Rs 2516(750+1766). And how loss on sale of assets of Rs. 5000 shall be treated?
CAclubindia
