Treatment of fised assets sold

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Querist : Anonymous

Querist : Anonymous (Querist)

29 September 2014 if depreciated assets sold what will be the tax implementation as per income tax
sold on profit
sold on loss

Nikhil Kaushik (Expert)
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06 October 2014 you need to look from the perspective of block of assets. Refer section 50 of the Income-tax Act.

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