Dear Sir/Madam,
Do any one tell me how to calculate capital gain on depreciable capital asset.
Thanks in Advance
2 Replies
Ashiwini Ballodia
(Managing Partner at TAXounting)
(8737 Points)
Replied 21 September 2017
As per Income Tax, Capital Gain of depreciable asset arises when the sale value of the asset exceeds the WDV of block of asset. Caital Gain will be Sale Proceeds minus WDV of Block of asset
Sonia Boob
(Graduation)
(39 Points)
Replied 22 September 2017
And also it will be treated as STCG always
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