does available ?
This query is : Resolved
03 August 2010
I.E IT IS CASE OF SLUMP SALE.
NO INDEXATION BENEFIT IS AVAILABEL ON SALE OF BLOCK OF ASSET WITHOUT VALUE ASSIGNED TO INDIVIDUAL ASSET.
slump sale means transferof one or more undertakings as a result of the sale for a lumpsum consideration without values being assigned to individual assets and liabilities in such sale.
If the undertaking is owned and held by the assessee for more than 36 months,it is a long term capital asset otherwise it is a short term capital asset.
Cost of acquisition and cost of improvement will be net worth of the undertaking.
Indexation benefit is not available
Report of a C.A. indicating co putation of net worth of the undertaking is required to be attached along with the return of income
NO INDEXATION BENEFIT IS AVAILABEL ON SALE OF BLOCK OF ASSET WITHOUT VALUE ASSIGNED TO INDIVIDUAL ASSET.
slump sale means transferof one or more undertakings as a result of the sale for a lumpsum consideration without values being assigned to individual assets and liabilities in such sale.
If the undertaking is owned and held by the assessee for more than 36 months,it is a long term capital asset otherwise it is a short term capital asset.
Cost of acquisition and cost of improvement will be net worth of the undertaking.
Indexation benefit is not available
Report of a C.A. indicating co putation of net worth of the undertaking is required to be attached along with the return of income
03 August 2010
no indexation benefit for slump sale as pointed by bansalji
if u r referreing to transfer of the whole of block of assets then no depreciation if it is depreciable assets and resultant would be short term capital gain
if u r referreing to transfer of the whole of block of assets then no depreciation if it is depreciable assets and resultant would be short term capital gain
03 August 2010
Indexation benefit not available for depreciable assets.
The difference between sale consideration & WDV of the block will be considered as Short term capital gain/(loss), as the case may be.
The difference between sale consideration & WDV of the block will be considered as Short term capital gain/(loss), as the case may be.
04 August 2010
Sir, not taking abt Slum sales
House propery is also depreciable asset
than y indexation benefit is available ?
What are the depreciable asset in which indexation benefit is not avaiable, please name some,
House propery is also depreciable asset
than y indexation benefit is available ?
What are the depreciable asset in which indexation benefit is not avaiable, please name some,
04 August 2010
depreciable assets are something which is used in business. and if u use house property in business den it is depreciable asset and therefore no indexation for tat....
04 August 2010
ASSETS USED IN BUSINESS LIKE PLANT & MACHINERY, CAR, TOOL & EQUIPMENT ON WHICH DEPRECIATION IS CLAIMED, IS CALLED DEPREICABLE ASSETS.
ON THAT ASSETS, NO BENEFIT OF INDEXATION.
ON THAT ASSETS, NO BENEFIT OF INDEXATION.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
