Profit on Sale of Asset

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Bhalnish

Bhalnish (Querist)
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18 September 2009 Kindly give Treatment of Profit on Sale of Asset in ITR 6

Zeeshan

Zeeshan (Expert)
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19 September 2009 you have to consider it block wise.
if all the assets of a block has been sold or the sale of an asset is higher than the block's wdv then it will be profit on sale of assets.

and in itr-6 it will be shown as shortterm capital gain in worksheet "CG-OS"
(full value of consideration-COA)
COA will be wdv of the block.