Income tax deprecation
This query is : Open
03 October 2016
If assets are sold discarded during the year and specially that assets pertain NIL WDV then gross block of that particular assets goes - Negative ?
Reply how to deal with this ?
Reply how to deal with this ?
Ankur Singhal
(Expert)
03 October 2016
dear
in such case short term capital gain will arise.
refer section 50 of income tax act
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