Set off
This query is : Resolved
02 August 2013
The company sold off its major assets due to slow down in its business and have short term capital gain u/s 50 of the income tax act.
can this STCG on assets u/s 50 be set off against carried forward depreciation/business loss ??
So now whether STCG have to be shown under head of income from business or under capital gain ?????
can this STCG on assets u/s 50 be set off against carried forward depreciation/business loss ??
So now whether STCG have to be shown under head of income from business or under capital gain ?????
02 August 2013
u mean to say 50B -slump sale.
it will be short term capital gain.
it will be short term capital gain.
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