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STCL on Depreciable Assets
Opening WDV DEP 15% (Car A-412361+ Car B-608162)1020523/-
Sale duering the year B 350000/- and STCL 258162/-
Purchase new car c in the march month 1500000/- with full payment .
my Q is can it be adjest STCL against new car valu or show as STCL.
Thanks in advance
Replies (2)
No it cant. You can only setoff it against STCG and LTCG for tax advantage
You book this this loss in P & L A/c.
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