what is impairment of assets? how does it affect to capital gain taxable?
please any one give me the answer
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Impairment of assets
Replies (1)
HI , Sir concept of impairment of assets is applicable in accountancy and is governed by AS-28 " Impairment Of Assets" however capital gain taxability is a completely separate concept and has nowhere link with its taxability.
In taxability of capital gain full value consideration is to be taken and in case of land and building by virtue of section 50C value adopted for the purpose of stamp duty valuation .
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