Loss on sale of asset
Querist : Anonymous
Opening WDV of 15% depreciable block is 146890/- as on 1/4/2015 however the asset was sold Rs. 1 Lakh and No other assets left in this 15% block. Pls clarify weather the loss of 46890 shall be clubbed with other block And the same is chargable to depreciation?
Pls clarify....
Regds
Mukesh
It is to be treated as Short Term Capital Loss and accordingly claimed through the Computation of Income.
Querist : Anonymous
Pls clarify weather this STCG can be set off against business income i.e.
Gross income 100000
Less Loss on sale of asset 46890
Net income 53110 chargable to tax
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