Tax audit query please help

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Student
1374 Points Posted on 17 September 2022
If block value in income tax is already nil and asset is sold during the year. Should I show the asset as sale in form 3cd depreciation chart?
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On 17 September 2022 at 17:41 Report
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This discussion addresses a query regarding the inclusion of an asset sale in the Form 3CD depreciation chart when the block value for income tax is already nil. The advice given is to show the asset as a deletion. Furthermore, if there's a profit from the sale, capital gains tax must be calculated.

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CFO- at NHTF
58280 Points Posted on 17 September 2022
You may show as deletion
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On 17 September 2022 at 19:06
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34 Points Posted on 18 September 2022
And If there is profit u must calculate tax in capital gains
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On 18 September 2022 at 13:57

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