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Income tax depreciation block concept

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 April 2016 Dear sir,

If a block ceases to exist, but if its WDV is still carried forward to future years (say 4 or 5 years), what is the remedial measure in subseqent year to write off that block.
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CA Mehta Ankur N.

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CA Mehta Ankur N. (Expert)
17 April 2016 iF Block ceases to exist than in that year you have to show a short term capital gain / loss as the case may be.
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
19 April 2016 As replied by Mr. Ankur, short term capital gain is applicable as per section 50. Also refer section 50A.
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