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Answer Posted / rabindra mallick
Capital Gain Means profit on Sale of Fixed Assets calculate
after depreciation.
It can illustrate as per below..
If a Furniture was purchased on Dt. 01.04.10 of Rs. 5 Lakh.
& sale on 28.02.2012 of Rs. 400,000.00
As on 01.04.11 Rs. 500,000.00
Less: Depreciate @ 18.1% on 31.03.2011 Rs. 90,500.00
As on Dt. 01.04.11 Rs. 409,500.00
Less: Dep. @ 18.1% on 28.02.2012 Rs. 67,824.00
As on 28.02.2012 Rs. 341,676.00
Less: Sale Rs. 400,000.00
Balance (Capital Gain) Rs.58,324.00
| Is This Answer Correct ? | 18 Yes | 3 No |
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