WebApr 9, 2024 · Generally, a persona invested his/her surplus assets into various types of assets to get capital understanding and better results. To investment to capital your will be taken to receive better results by selling those assets later holding short otherwise long period of time. The treatment of income on sales of asset will depends on the […]
Tax Alert Delivering Clarity - Deloitte
Webthe value of any asset in respect of which wealth-tax is not payable under this Act; ( iv ) any amount shown in the balance-sheet including the debit balance in the profit and loss … WebApr 12, 2024 · The Charity. Newham Community Leisure Trust (‘the charity’) is a charitable company limited by guarantee and incorporated on 4 February 1992. It was registered with the Commission on 10 March ... err3700 ecowater
Fixed Assets Below Rs.5,000 [Resolved] Audit - CAclubindia
WebJan 9, 2012 · Provide Depreciation @ 15% on above amount. in case the new car has been used for more than 180days. Otherwise provide depreciation @7.5%. . You may credit the receipts to Motor Car A/c of Rs 170000/ and debit the amount of New Motor Car to the said account only as in Income Tax such method of accounting is accepted. . Web6.3 Gross book value of a fixed asset is its historical cost or other amount substituted for historical cost in the books of account or financial statements. When this amount is shown net of accumulated depreciation, it is termed as net book value. Explanation 7. Fixed assets often comprise a signifi cant portion of the total assets of a n WebJun 9, 2024 · Rate of depreciation applicable on the asset is 14%. Now the amount of depreciation is Rs. 28000 for every year. Written Down Value: Under this method, the … err1 magnaporthe