Loss on sale of depreciable asset
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 December 2013
loss on sale of depreciable asset is disallowable on which sec. 36/37/40/40A/43B?
Guest
Guest
(Expert)
25 December 2013
IT IS A SHORT TERM CAPITAL LOSS WHICH SHOULD BE SET OFF AGAINST YOUR CAPITAL GAIN.
Guest
Guest
(Expert)
25 December 2013
EVEN ITS PROFIT IS NOT CHARGEABLE UNDER PROFIT AND GAIN INCOME BUT TAXABLE TO CAPITAL GAIN FOLLOWING THIS BASIS IT IS A CAPITAL LOSS WHICH IS TO BE SET AGAINST CAPITAL PROFIT.
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