Capital Gain on sale of Machinery
This query is : Resolved
09 April 2011
Pls let me is income tax will be charged on profit under capital gain on sale of machinery & what percentage.Also pls let me know on any other fixed assets.
09 April 2011
Yes income tax will be charged on sale of plant and machinery on gains under the head capital gains.Rate depends upon the person.Your question is little bit unclear it seems.
25 April 2011
if plant and machinery is sold then always short term capital gain or loss will be come under income tax act.
further, if block of assets is exit then no short term capital gain or loss would be arsed
further, if block of assets is exit then no short term capital gain or loss would be arsed
Message likes :
2 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- LC charges in relation to Asset purchased should be Capitalised ?
- Annual return in Gst
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
