We have a car value 10,00,000 as on 01/04/2019 , which was sold for 5,00,000 on 15/05/2019 ( Dep @ 15%)
We also have other assets for 15 % Rate whose value is 50,000 /- as on 01/04/2019.
Query what will be tax treatment for the same in books ?
Loss on sale of car in profit and loss and also sec 50 calculation for the same
CAclubindia
