Follow Our FB Page << CircleMedia.in >> for Daily Laughter. We Post Funny, Viral, Comedy Videos, Memes, Vines...


what is the capital gains

Answers were Sorted based on User's Feedback



what is the capital gains..

Answer / 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

what is the capital gains..

Answer / girish

Capital gains is the profit on sale of capitalised assets
for the year.

Is This Answer Correct ?    3 Yes 0 No

what is the capital gains..

Answer / manoj s

SECTION 45 OF INCOME TAX ACT 1961 SPEAKS ABOUT CAPITAL
GAIN..


CONDITION TO BE FULFILLED:
1. THERE SHOULD BE A CAPITAL ASSETS
2. SUCH CAPITAL ASSETS HAS TO BE TRANSFERRED BY THE ASSESEE
3.. SUCH TRANSFER SHOULD BE IN THE CURRENT PREVOUS YEAR..
4.. FROM THAT TRANSFER ANY PROFIT OR GAIN SHOULD ARISE...
5.. THE GAIN SHOULD BE NOT BE EXEMPTED FROM SEC
54,54B,54EC,54D,54F,54G,54GA

Is This Answer Correct ?    1 Yes 0 No

Post New Answer



More Accounting AllOther Interview Questions

Expand ________DBMS

2 Answers  


Define investment Property?

1 Answers  


hi this is sharath,from hassan ,karnataka.,., i am caled for t interv on 28th may 2009, 12 noon, at foll location.,. STATE BANK OF MYSORE STAFF TRAINING CENTRE 104/105 7TH MAIN ROAD JAYALAKSHMIPURAM MYSORE-570012. anybody who is also attendin the same interview please reply me .,.,. i am in my final yr BE EnC,MCE hassan, i wold like to know more about the interview .,., please do reply.,.,. yours friendly, sharath kumar, sharath.syss@gmail.com

0 Answers   State Bank Of India SBI,


Expand SEBI?

6 Answers  


shares & debentures ?

3 Answers  






what is the difference betwen p & l a\c and income & expenditure statement

3 Answers   Genpact,


How can be adjusted advances in the next year, shown at liabilities side in last year balance sheet (these advances in the name of unreal persons). status of firm - Pvt. Ltd. Company . Nature of business is automobile service. industry. suggest me

1 Answers  


EXPAND______________RFID

1 Answers  


what is the journal entries of a debit/credit notes in the books of seller and purchaser's A/C.

8 Answers   Accenture,


what is day book and how it is different from ledger

8 Answers   Infosys, Telco,


A commerce interview book specially designed for Unemployees,Employees,Lecturers,Commerce students and enterpenuers trying to devlop the the commerce subject is going to be published. A sample book on the interviews is ready for free circulation to you. It contains Income tax, Journal entries useful for various occassions,Terminology, Terminology test, Multiple answers,Fill in blanks and Abbreviations. If neede send your e-mail id to me for immediate circulation. It is quite free free to you. My e- mail id satyaki_raju@yahoo.co.in

6 Answers  


what is term loan?

4 Answers  






Categories