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In balancing charge Asset is sold NOT MORE THAN NET BOOK VALUE given in statement but in problem asset actually exceeds the net book value how?

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Kanaga Mani

Kanaga Mani

CA Inter

2K+

31-May-20

61

Answers (1)

Conditions to be satisfied for applying Balance charge under section 41(2) 1. Balance charge = Sale Consideration - WDV 2. Balance Charge < Actual Cost - WDV (please correct your answer accordingly) Year of Taxability: In the previous year in which moneys payable is due.


KEERTHI PRIYA

KEERTHI PRIYA

CA Inter

695

01-Jun-20

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