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Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 June 2016 Respected Experts,
i need the guidance of following case-

I have physical assets in my block of assets having 0 W.D.V
During the year i had sold these assets
and also purchased one asset in same block in same year.

so in this case what is to be done, whether depreciation and capital gain both to be calculate.
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CA ABHAY GUPTA

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CA ABHAY GUPTA (Expert)
19 June 2016 depreciation is to be booked on new purchased assest nd no capital gain arises as block of asset doesn't ceased...
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
20 June 2016 1. Block ceased since op. WDV is zero. So upon sales, capital gains attracts.

2. Depreciate new asset.




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