https://www.taxtmi.com/acts?id=49072 For a depreciable asset block, if total consideration on transfers in a tax year exceeds expenditure wholly for the transfer plus the written down value of the block at the start of the year plus actual cost of assets acquired into the block during the year, the excess is deemed to be short term capital gains. If all assets in a block are transferred so the block ceases to exist, the cost of acquisition is the starting written down value increased by actual cost of assets added during the year, and the income from such transfers is treated as short term capital gains. en-us Fri, 14 Feb 2025 16:41:31 +0530 Fri, 14 Feb 2025 16:41:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49072 For a depreciable asset block, if total consideration on transfers in a tax year exceeds expenditure wholly for the transfer plus the written down value of the block at the start of the year plus actual cost of assets acquired into the block during the year, the excess is deemed to be short term capital gains. If all assets in a block are transferred so the block ceases to exist, the cost of acquisition is the starting written down value increased by actual cost of assets added during the year, and the income from such transfers is treated as short term capital gains. Act-Rules Bills Fri, 14 Feb 2025 16:41:31 +0530 https://www.taxtmi.com/acts?id=49072