Can I book profit or loss for sale of asset without Exhasting the Block of asset as per SEC 32 of Income Tax Act ???????????????????????.
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Doubt on loss or profit for sale asset ??????
Replies (1)
No you cant do that. The block should get exhausted after the sale of asset or number of assets. then only profit/loss can be calculated. If the block is still in existence after the sale of assets or number of assets then no profit/loss will arise.
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