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Block of assets

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(Querist)
10 May 2011 When sale proceeds of a single asset of a block exceeds the entire wdv of the block,what happens to the rest of the assets of that block?????
The excess of proceeds over wdv will be stcg,but what will be the treatment for rest of the assets of that block.
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Nayan Das

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Nayan Das (Expert)
11 May 2011 THIS IS STCG INCOME IN DIRECTLY TRATED IN P/L ITEM
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Pankaj

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Pankaj (Expert)
12 May 2011 Dear,

You rightly said that excess of proceeds over WDV is STCG.

Now WDV of the block has become zero, so in subsequent period / years, you can't claim any depreciation and whenever you are selling any of the remaining asset belonging to that block, the full sale proceeds will be treated as STCG.
You raised a good question.
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Abhijit Gupta

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Abhijit Gupta (Querist)
12 May 2011 thank you sir for your prompt reply
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