Wdv asset sold.......
This query is : Resolved
27 September 2011
If an asset having written down value was sold. Whether the loss arising out of that sale transaction should be treated as a business loss or capital loss?
27 September 2011
If the asset has been used in the business and you are claiming depreciation every year then loss from sale of asset should be debited in profit and loss account.
Thanks,
CA M Sreenivasa Rao.
Thanks,
CA M Sreenivasa Rao.
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