Income tax depreciation block concept
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 April 2016
Dear sir,
If a block ceases to exist, but if its WDV is still carried forward to future years (say 4 or 5 years), what is the remedial measure in subseqent year to write off that block.
If a block ceases to exist, but if its WDV is still carried forward to future years (say 4 or 5 years), what is the remedial measure in subseqent year to write off that block.
17 April 2016
iF Block ceases to exist than in that year you have to show a short term capital gain / loss as the case may be.
19 April 2016
As replied by Mr. Ankur, short term capital gain is applicable as per section 50. Also refer section 50A.
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