Capital Gains

If A (WDV)=10,000, B (Sale value) =8000 i.e WDV-Sale=2000 (difference) If all assets were sold in block-2000 -Short term capital loss because nothing remains, otherwise depreciation will be claimed. on Rs.2000.

KEERTHI PRIYA

CA Inter

★ 695

28-Jun-20 16:24

Ma'am a new doubt Can a block also refer to the same assets which are present or it should be different assets under one category Also please can u tell me why have they charged 7.5% on the wdv of four machines rather than one of them

Thread Starter

aman kawad

CA Inter

★ 7K+

28-Jun-20 18:42

Ma'am a new doubt Can a block also refer to the same assets which are present or it should be different assets under one category Also please can u tell me why have they charged 7.5% on the wdv of four machines rather than one of them

Thread Starter

aman kawad

CA Inter

★ 7K+

28-Jun-20 18:42

Block of aaset=same rate+same class will be grouped as one and depreciation was 15%(50%)=7.5% as asset was put to use for less than 180 days.

KEERTHI PRIYA

CA Inter

★ 695

28-Jun-20 22:07