Depreciation
This query is : Resolved
21 June 2016
How to disclose sale of an asset in depreciation schedule once the block cease to exist after the sale.
Thanks & Regards
Vineesh Chandran k
22 June 2016
The block would cease of exist after the sale of asset. Thus the depreciation can be shown in the depreciation column and the gross block. However during the year end, the net block would cease to exist
22 June 2016
after cease of block you are selling the assets its come under short term capital gain .you have to pay the tax accordingly
24 June 2016
THIS IS NOTHING BUT A SHORT TERM CAPITAL GAIN .
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