Income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 November 2012
What is the Treatment of Sale of Fixed Asset In The Block of Assets Concept.
18 November 2012
The sale of asset value dived in to two :
1.For ex : Opening balance is Rs.100000 the addition is Rs.50000/ then the deduction is Rs.25000/. then the gross block of assets is Rs.125000/(100000+50000-25000)before depriciation.
2.If the block of sale value is greater than the cost of the block assets then it is short term capital gain.
1.For ex : Opening balance is Rs.100000 the addition is Rs.50000/ then the deduction is Rs.25000/. then the gross block of assets is Rs.125000/(100000+50000-25000)before depriciation.
2.If the block of sale value is greater than the cost of the block assets then it is short term capital gain.
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