Answer Posted / akash
Index for the year of sale/ Index in the year of
acquisition) x cost.
For example, if a property purchased in 1991-92 for Rs 20
lakh were to be sold in A.Y. 2009 -10 for Rs 80 lakh,
indexed cost = (582/199) x 20 = Rs 58.49 lakh. And the
long-term capital gains would be Rs 21.51, that is Rs 80
lakh minus Rs 58.49 lakh.
| Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
what TYPE OF INVOICE SHOULD RAISE TO C&F agent ?
Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
WHAT IS CORE ACCOUNTING, GROUP CONSOLIDATION ? CONSOLIDATED ENTRY. COULD YOU GIVE ME AN EXAMPLE
Account for letter of credit in the books?
Tell me what is the difference between accumulated depreciation and depreciation expense?
Which forms in use in service Tax, Excise duty and Vat for the return.
what is difference between budgeting and Forecasting
Hi I would like to know what is journal entry for buying securities with Margin Trading I mean 50% of cost is paid by broker. 2nd question is when we withdraw extra money from the balance we have in bank account which means our balance become (-) what is journal entry for that, should I just credit the bank or should I put the extra money with-drawled as a liability account ? Thank you in advance!
In the case of stock transfer from one branch to another branch any reverse credit is applicable.
how to get a job in stock markets for MBA-FINANCE?
In a housing society accounting if a defaulter having dues consisting of principal amount and simple interest, pays a part amount whether the received amount should be adjusted first against the interest dues and accordingly reduce the balance principal dues or adjusted only against the principal amount, allowing outstanding simple interest to contineously increase/
what is the deference between depreciation explanation
IS METHODEX IS GOOD INSTITUTE FOR SAP FICO MODULE TRAINING. IS IT IN BANGALORE OY HYDERABAD.
what do you mean byrecoupment of shortworkings in royalty accounts
Can anybody tell me the steps involved in Budgeting / Forecasting generally..?. Hints would be appreciated highly.
