When is section 50 (pgbp) attracted ?
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 26 August 2013
Sec 50 is attracted when an asessee has sold a capital asset forming part of block of assets on which depreciation has been allowed under The Income Tax Act, 1961.
Regards,
Fatema
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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