Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 September 2015
I HAD SOLD AN LONG TERM ASSET IN A BUSINESS WITH PROFIT OF RS 50000.
I HAD ALSO PRESENTED IT IN P/L A/C.
NOW DO I NEED TO DO SHOW IT IN CAPITAL GAIN ENTRY FOR SUCH PROFIT ?
I HAD ALSO PRESENTED IT IN P/L A/C.
NOW DO I NEED TO DO SHOW IT IN CAPITAL GAIN ENTRY FOR SUCH PROFIT ?
RahulMehta
(Expert)
27 September 2015
if it is a capital asset. then it is chargeable to tax under head capital gains separately
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