in our company machinery purchased for Rs.65,09,029/- on 19.12.2018. and sold for Rs.30,16,000/- on 14.02.2022. kindly help for passing profit/loss on sale of machinery entries. Also help me in calculating depreciation (WDV/SLM)
24 April 2022
Calculate 15% wdv depreciation. For the first year calculate 50% depreciation in view of usage less than 182 days. Reduce wdv value from the sale value to calculate profit or loss on sale.
CAclubindia
