Businees income
This query is : Resolved
10 July 2010
1Any thing recd in Kind by selling goods or by rendering services,whether it is taxable?if So under which Section?
2.Any income recd by way of selling Trade marks,patents and other commercial rights under which head it is taxable either Business or capital gain?
Whether it can be taxed under capital gain(Bcz as in the nature of captal assest)?
2.Any income recd by way of selling Trade marks,patents and other commercial rights under which head it is taxable either Business or capital gain?
Whether it can be taxed under capital gain(Bcz as in the nature of captal assest)?
12 July 2010
Point 1) If assessee is carrying his activity then this gain will be taxable under PGBP otherwise under Capital Gain and income from Service will be taxable under PGBP if this is his daily activity otherwise under Income From Other sources.
point 2) These will be taxable under Capital Gain only because these are not his business activity.
Regards!!!
point 2) These will be taxable under Capital Gain only because these are not his business activity.
Regards!!!
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