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Where the entire block of the depreciable asset is transferred after 36 months, there will be (a) (c) 78. short-term capital gain short-term capital gain or los
Where the entire block of the depreciable asset is transferred after 36 months, there will be (A) (C) 78. Short-term capital gain Short-term capital gain or loss (B) (D) Long-term capital gain Long-term capital gain or loss
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It will be short term capital gain or loss. This is according to section 50 of the Income tax act 1961. When an assessee sells all the capital assets forming part of a block which means no asset is left in the block then any gain will be short term capital gain and any loss will be short term capital loss.