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
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
