10 June 2013
After adjustment of all profits and lossed against sale of the assets the surplus is to be taxed as short term capital gains. In case of net loss of block of any assets the same is to be carried over and is to be shown as assets and only y way of depreciation the same can be adjusted. The profit and loss of inter block cannot be adjusted. such as profit on land cannot be adjusted against loss on sale of car or other assets.
10 June 2013
After adjustment of all profits and lossed against sale of the assets the surplus is to be taxed as short term capital gains. In case of net loss of block of any assets the same is to be carried over and is to be shown as assets and only y way of depreciation the same can be adjusted. The profit and loss of inter block cannot be adjusted. such as profit on land cannot be adjusted against loss on sale of car or other assets.