Hii, everyone I have one query related fixed assets (Car) sale..
WDV as per companies. Act as on 31.03.2020 == 295750.00
Sale price = 400000.00
Profit=104250
WDV as per IT Act
31. 03. 2020-505750.00
Sale price= 400000.00
Loss. = 105750
What will be the treatment in books and Income Tax...?
CAclubindia
