Capital gain
This query is : Resolved
Querist : Anonymous
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.
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.
19 June 2016
depreciation is to be booked on new purchased assest nd no capital gain arises as block of asset doesn't ceased...
Message likes :
1 times
20 June 2016
1. Block ceased since op. WDV is zero. So upon sales, capital gains attracts.
2. Depreciate new asset.
2. Depreciate new asset.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Transporter Declaration form
- LC charges in relation to Asset purchased should be Capitalised ?
- Multiple trade mark
- Regarding appeal to GSTAT
- Copyright software
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- Taxation on Swing Trading Income (No Other Income)
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
