Depreciatoion on fixed assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 September 2014
Fixed assets purchased 4 -3 years ago and depreciation charged on fixed assets each financial year and now FY 13-14 the said assets has sold now what is its treatment in company and as per income tax in books of accounts and taxation purpose.
Nikhil Kaushik
(Expert)
06 October 2014
depends on the position viz-a-viz block of assets. refer section 50 of Income-tax Act, 1961
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