18 January 2022
Assessee is having 2 office premises of which one office is given on rent and other for own business Rented office till Sept 20 was given on rent and in october sold .
My question is Whether excess received on sale value minus wdv will be taxable as business profit ? For calculation of depreciation under income tax whether from block of asset of office premises sale proceeds of office need to be reduced and depreciation on balance will be available ?
CAclubindia
