Easy Office
LCI Learning

Fixed Assets

This query is : Resolved 
Profile Image

Profile Image

(Querist)
20 June 2009 Can Fixed Assets can be in Negative in the Fixed Assets Schedule after charging Depreciation as per Income tax Act 1961.?
Profile Image

CA.SHAHZAD SAYYED

Profile Image

CA.SHAHZAD SAYYED (Expert)
20 June 2009 Never, it may be nil but not negative
at last you have to take maximum depreciation equal to closing WDV
Profile Image

CA Nitin Wadhwani

Profile Image

CA Nitin Wadhwani (Expert)
20 June 2009 The block can be negative when sales value of assets sold is more than existing block, but after charging depreciation it cannot be negative at all.
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links