My Company has purchased car of Rs. 10,00,000 on 01/04/2015 on which depreciation was claimed upto 30/11/2018 and WDV of car is Rs. 6,00,000 on 01/11/2018 company sold such car at Rs. 9,00,000. My Queries are: 1. Is Such asset is a Long Term capital Asset ? 2. If Yes, Is Indexation available on that ? 3. How to Calculate the Capital gain ?
28 November 2018
that depends on the company's tax rate and whether there is any other asset left in the block. As I mentioned earlier, read the article