Section 50 of ITA, 1961 : Section 50: Special Provision For Computation Of Capital Gains In Case Of Depreciable Assets
ITA, 1961
JavaScript did not load properly
Some content might be missing or broken. Please try disabling content blockers or use a different browser like Chrome, Safari or Firefox.
Explanation using Example
Let's say Mr. Sharma owns a manufacturing business and has a block of machinery assets on which he has claimed depreciation over the years. In the financial year 2022-23, he decides to sell one of the machines for a substantial amount. To calculate the capital gains on this sale, he must consider Section 50 of the Income-tax Act, 1961.
According to Section 50, the calculation of capital gains will be different from the usual method because the machine is part of a block of assets and depreciation has been claimed on it. Here's how ...
Login to access all pages and read more content.
To disable ads and read rest of the premium content, subscribe to KanoonGPT Pro.
In fact, any online course, certificate program, diploma in International Law, Technology Law, or whatever-new-hype-they-invent is usually just marketing sugarcoat. Don't let them sell you a PDF or Recorded Content and call it empowerment.
A course designed to truly empower you should be accessible — and preferably, free. That's why KanoonGPT will launch a Free AI 101 for Law Professionals course.
Also, quick reality check: Indians earn in INR ₹₹₹ — why on earth are we paying in Dollars $$$ for AI tools ? 🤨 Something doesn't add up.
Download Digital Bare Acts on mobile or tablet with "Kanoon Library" app
