Sale of scientific research asset

1461 views 2 replies
sale of scientific research asset after put into business what is treatment?
Replies (2)
As per explanation 1 to section 43(1) where an asset is used in the business after is ceases to be used for scientific research related to that business the actual cost of the asset to be included in the relevant block of asset shall be taken as nil as 100% deduction has already been allowed. If such asset is sold then the value of block shall be reduce by the sale value of the asset.
Thank you sir


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register