hi sir,madam
Sales of depreciable assets where whole assets cease to exist. were shown in the capital gain schedule in ITR 6
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Where shown sales of depreciable assets in ITR 6
Replies (2)
Reference of Section 50 of Income Tax Act, 1961
If the whole of the block of asset is sold then there is short-term capital gain or loss on sale of block of assets. And no depreciation shall be allowed from such block of assets.
If the whole of the block of asset is sold then there is short-term capital gain or loss on sale of block of assets. And no depreciation shall be allowed from such block of assets.
Thank you sir, but in ITR return under capital gain which head shown thise capital gain, it should be shown under deemed capital gain or other ?
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