SALE OF FIXED ASSETS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 July 2010
SALE OF ALL BUSINESS ASSET OF A BLOCK AT LOWER THAN ITS WDV WILL RISE TO TERMINAL DEPRECIATION OR SHORT TERM CAPITAL LOSS?
22 July 2010
terminal depreciation is applicable only for power sector units
not for all type of business
when a block of asset is sold at a price lower then its WDV it would result in short term capital loss u/s 50
not for all type of business
when a block of asset is sold at a price lower then its WDV it would result in short term capital loss u/s 50
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CA Ravi Sisodia
(Expert)
22 July 2010
if depreciable assets then short term capital loss.
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