Capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 June 2014
The complete proceeds of sale of fixed assets has been utilised for payment/settlement of bank loan. Pl. let me know whether the sale proceeds of fixed assets are subject to capital gains or it is completed exempted as the proceeds are utilised for settling of bank loan.
16 June 2014
yes it is sub to capital gain tax.....
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 June 2014
I was told that if the sale proceeds are utilised for settling loan, it is exempted, from capital gains. kindly clarify
16 June 2014
then whoever said to u is wrong
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