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Depreciation under income tax act

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(Querist)
05 September 2016 If the block of fixed asset does not exist in actual but balance of fixed asset stands in balance sheet at nominal value say Rs 20..What will be the treatment of business asset like machinery or furniture
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Deepti Asawa

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Deepti Asawa (Expert)
05 September 2016 balance should be treated as short term capital gain if assets not exists

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