Please Help: depreciation
Posted Date : 17-Nov-2012 , 01:17:31 pm | Posted By: Naga Rakesh
Category :
Income Tax | Answers :
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Comments :
5| Hits: 180
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how to treat profit on sale of fixed asset as per it |
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Answers:
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 Answer by: Anmol Goyal |
| If it is a depreciable asset, then there will always be a STCG.. Refer to head cap. gain
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| Answer by: Siddharth Bumb |
| Dear,
Fixed asset is a capital asset and profit arising from sale of capital asset is a capital profit and hence there will be short term capital gain. On depreciable asset, there is always short term capital gain or loss
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| Comments |
| Posted By : Vipul Jadhav |
18-Dec-2012, 08:22:40 |
| if depreciable asset taxable as STCG/STCL. if non depreciable asset refer capital gains chapter |
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| Posted By : CA Gopal Choudhary |
20-Nov-2012, 06:22:55 |
| dear friend, unless the block cease to exist or the resultant figure is negative, u cant treat the sale of fixed assets under the head CG.
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| Posted By : CA. SAYANTAN BASU |
17-Nov-2012, 06:30:03 |
| Dear sir ,
THE SALE OF FIXED ASSET WILL BE TREATED AS CAPITAL GAIN ..... IF THE ASSET QUALIFIES AS CAPITAL ASSET U/S 2(14) .SO THE PROFIT IS LONG TERM CAPITAL GAIN .... OTHERWISE SHORT TERM CAPITAL GAIN ..... |
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