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Income tax deprecation

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(Querist)
03 October 2016 If assets are sold discarded during the year and specially that assets pertain NIL WDV then gross block of that particular assets goes - Negative ?

Reply how to deal with this ?
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Ankur Singhal

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Ankur Singhal (Expert)
03 October 2016 dear in such case short term capital gain will arise. refer section 50 of income tax act

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