Deprciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 May 2012 case facts
assesee is an individual
cost of the asset=100
w.d.v of the asset=40
assesee is using half of the asset for personal use and other half for business
but the value of the block represents the entire asset
and he has charged only half of the depreciation to the block till date and claimed the same
also the market value of the asset has appreciated a lot.
now if he sells the asset he will have huge STCG.
how to save the STCG?
what will constitute the block of asset?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

14 May 2012 STCG can be saved by addition of asset in the said block.
.
Block of asset :
----------------
Cost of Asset minus Depreciation actually allowed. For more information read-

http://www.caalley.com/art/ca08_0124.html

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok