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SALE OF FIXED ASSETS

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Querist : Anonymous

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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?
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srinath

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srinath (Expert)
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
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
22 July 2010 if depreciable assets then short term capital loss.
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