Depreciation
This query is : Resolved
10 December 2009
Can we allow depreciation on asset,which is purchased an sold in the same year??
10 December 2009
As per Income Tax Act - It depends on the Block of Asset Concept. In case no other asset exists in the block, No depreciation shall be chargeable. Rather, Short Term Capital Gain / Loss would be computed.
10 December 2009
YES AGREE WIH RISHABH
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