Profit on sale of Fixed Asset but not resulting STCG or STCL

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..... Profit on sale of Fixed Asset but not resulting STCG or STCL
Query (Issue) Started By: - Suresh P Dated:- 18-3-2020 Income Tax
Income Tax
Dear Experts, There is a sale of Fixed Asset genera .....

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..... ting a Profit (Say ₹ 100). But the same block of asset during the year does not cease to exist under IT and the block of asset as at the beginning(Say ₹ 200) as reduced by the sale conside .....

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..... ration received on sale of such asset (₹ 100) is a positive(₹ 200-₹ 100).There is no acquisition in the relevant block during the previous year. Obviously we have to reduce the prof .....

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..... it on sale of Asset (₹ 100) while computing business income and the same has to be reduced from the block of asset and the depreciation for the balance has to be computed. There will be no capit .....

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..... al loss as the block of asset does not ceases to exist and nor does the capital gain as the sale consideration (₹ 100) is not more than the WDV(₹ 200). Please explain how to deal with the .....

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..... same in winman software if someone of you use it or IT Filing website. Thanks in Advance.
Discussion Forum - Knowledge Sharing .....

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