Demolished Asset Tax Implications: Short-Term Capital Gain or Loss u/s 50 of Income Tax Act.

Demolished Asset Tax Implications: Short-Term Capital Gain or Loss u/s 50 of Income Tax Act. https://www.taxtmi.com/highlights?id=34861 Loss arising on the demolition of a depreciable asset - where an asset is demolished, and the block of asset ceases to exist, the difference between the written down value and the salvage received shall have to be treated as short term capital gain or short term capital loss, as the case may be u/s 50 - AT en-us Thu, 18 May 2017 11:01:47 +0530 Thu, 18 May 2017 11:01:47 +0530 TaxTMI RSS Generator Demolished Asset Tax Implications: Short-Term Capital Gain or Loss u/s 50 of Income Tax Act. https://www.taxtmi.com/highlights?id=34861 Loss arising on the demolition of a depreciable asset - where an asset is demolished, and the block of asset ceases to exist, the difference between the written down value and the salvage received shall have to be treated as short term capital gain or short term capital loss, as the case may be u/s 50 - AT Highlights Income Tax Thu, 18 May 2017 11:01:47 +0530 https://www.taxtmi.com/highlights?id=34861