Depreciation us 32
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 March 2013
for instance the wdv of plant as on 1.4.2012 is 100000 and it is sold on 1.12.2012 for 3lakhs,...while computing capital gains y do we directly reduce 100000 from 300000 and y dont we claim depreciation for 2012-13..wich condition is violated..plz explain
12 March 2013
Depreciation is calculated on WDV at the end of year. Now since the opening block is 1 lac and it was sold for 3 lac, the closing WDV is Nil and Hence no depreciation.
The sale proceeds less opening WDV would be short term capital gain.
The sale proceeds less opening WDV would be short term capital gain.
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
