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tax treatment of sale of asset
If a company has an asset in its books of account whose value has become nil as it has been fully depreciated, and if that asset is sold by company, then it will be Short term or long term capital gain? And under which section
Replies (2)
It is treated as short term capital gain and kindly refer Sec 50 for depreciable asset capital gain taxation
sale of depreciable assets is always short term
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