13 June 2014
depends on what is value of the block, if any...at what price you sell the asset...etc etc...if depreciation has been claimed, the capital gains shall be computed as per Section 50 of the Income-tax Act.
13 June 2014
It depends on the value of Car(WDV) and Sale price. If profit is earned then it will b taxable as Capital Gain and if loss arises then u can set off that loss.