16 July 2013
One of our client in the category of individual, has sold car in loss & no depriciation charged therefore is there capital loss on car to be calculated?? & set off can be claimed of capital loss on car??
16 July 2013
Please clarify whether its personal asset is sold off. However since Individual has never charged depreciation therefor it can assume that it personal asset & in that case no Capital Gain/loss required to be computed under section 2(14)
CAclubindia
