Section 50 - block of capital assets
This query is : Resolved
06 February 2024
op. wdv on 1.4.2023 Rs. 1 crore
add purchase in Feb 2024 50 lakhs
Less sale value in Dec 2023 Rs. 2.5 crore (here on 31.12.2024, block becomes negative)
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WDV on 31.3.2024 minus Rs. 1.0 crore
===========================
my question is --> even if block becomes negative on 31.12.2024, (i.e. opening 1 crore minus sale 2.5 crore), its ok? i mean, short term cap gain will be only rs. 1 crore for fy2324, right?
my view --> yes, stcg will be only 1 crore for entire fy2324, because, sequence in section 50 is op + acquired DURING PREVIOUS YEAR minus sale value.
regards,
ca kunjan
add purchase in Feb 2024 50 lakhs
Less sale value in Dec 2023 Rs. 2.5 crore (here on 31.12.2024, block becomes negative)
-----------------------------------------------
WDV on 31.3.2024 minus Rs. 1.0 crore
===========================
my question is --> even if block becomes negative on 31.12.2024, (i.e. opening 1 crore minus sale 2.5 crore), its ok? i mean, short term cap gain will be only rs. 1 crore for fy2324, right?
my view --> yes, stcg will be only 1 crore for entire fy2324, because, sequence in section 50 is op + acquired DURING PREVIOUS YEAR minus sale value.
regards,
ca kunjan
07 February 2024
You are right stcg is 1 crore only.
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