EASYOFFICE

Sale of Fixed Assets

This query is : Resolved 

27 December 2020 During f y 19-20 motor car was damaged in water logging and insurance claim was received
whether depreciation as per companies act can be claimed till date of disposal ?
also whether insurance claim received and subsequent profit earned i.e. insurance claim received minus w d v of car is business profit ?

28 December 2020 The depreciation will be charged till the date of its disposal. Entire Insirance claim needs to be offered as Other Incomes.



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

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries