what should be the accounting treatement for profit on sale of asset in the block of assets. Should it be carried forward? Or should it be charged to Profit and loss account?
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Accounting treatment for profit on sale of Fixed asset
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Are you asking with reference to books of account or incometax statement?
IN THE BLOCK OF ASSEETS SOLD & THERE IS A PROFIT THEN IT IS SHORT TERM CAPITAL GAIN CHARGED TO TAX AS INCOME IF WHOLE BLOCK IS CEASED OTHERWISE RDUCED THE AMOUNT FROM THE BLOCK
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