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Depreciation

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(Querist)
21 June 2016 How to disclose sale of an asset in depreciation schedule once the block cease to exist after the sale. Thanks & Regards Vineesh Chandran k
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CA Amrita Chattopadhyay

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CA Amrita Chattopadhyay (Expert)
22 June 2016 The block would cease of exist after the sale of asset. Thus the depreciation can be shown in the depreciation column and the gross block. However during the year end, the net block would cease to exist
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Rupesh Jain

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Rupesh Jain (Expert)
22 June 2016 after cease of block you are selling the assets its come under short term capital gain .you have to pay the tax accordingly
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Soumitra Basu

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Soumitra Basu (Expert)
24 June 2016 THIS IS NOTHING BUT A SHORT TERM CAPITAL GAIN .

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