Q.3. (a) Mr. Yadav, the owner of a firm furnished the following information for the previous
year 2019-20. Compute taxable Capital Gain for the Assessment year 2020-21. 10+10=20
(i) Asset type: Machinery (Depreciable)
Rate of Depreciation
15%
Written down value of the block on 1.04.2019
Rs. 2,00,000
Asset purchased on 1.10.2019
Rs. 1,50,000
Sale proceeds of old Machinery ( Book value as on 1.04.2019 – 1,20,000) Rs. 4,00,000
(ii) Asset Type : Land
Date of Acquisition
27.01.2002
Date of Sale
22.03.2020
Cost of Acquisition
Rs. 6,00,000
Sale proceeds
Rs. 30,00,000
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