05 September 2009
how to disclose following transaction in fixed assets annexure in Form 3CD..... opening balance of car as on 1st april 08 is Rs.50,309 dep. as per book on 19th jan 09 is Rs.5974 sale as per book is Rs.45000 and profit on sale is Rs.665......???? Regards.
05 September 2009
op bal - as per I.Tax deduct 45000 charge dep on balance amt if there are other assets in the block of assets otherwise bal will be short term capital gains.
05 September 2009
Deduct Rs.45000 from Opening balance on 01-04-2008 and charge depreciation on balance amount if there are any other assets in the block. If there are no assets the balance will be dealt as per Capital gains.
CAclubindia
