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Related taxation on depreciable asset
how to present profit on sale of fixed asset in itr 6 if the sale consideration is more than wdv but the block is not nil?
Replies (2)
Quick Summary
The amount over and above the WDV shall be treated as short term capital gain and taxed accordingly further block still exists but no allowance of depreciation shall be allowed.
No allowance for depreciation means?
depreciation on that particular asset till the asset is sold or anything else?
depreciation on that particular asset till the asset is sold or anything else?
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