Cost of telecommunication licence -1500000
W.D.V.=1300000
Sale proceed=1370000
business income =70000
in this question wheather their is capital loss of 130000 (1500000-1370000) or not
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Sec.-35abb
Replies (5)
In this if depreciation has been charged then there is no question of 15L for CG calculation
There is income of 70k
above question is for telecommunication licence(sec.35ABB)
There is no short term capital Loss.
There is only business income of 70,000Rs./-
Since the sale proceeds dont exceed the cost of acquisition, the excess over the WDV will be treated as business income.
Since the sale proceeds dont exceed the cost of acquisition, the excess over the WDV will be treated as business income.
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