Fixed asset
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 September 2012
sir ,
if we are not show our fixed asset in ITR fixed asset block or not take deprecation , expense, befit. after that .
i am selling my asset and receive this amount what is treatment. current year what liability is charge for me.
if we are not show our fixed asset in ITR fixed asset block or not take deprecation , expense, befit. after that .
i am selling my asset and receive this amount what is treatment. current year what liability is charge for me.
CA Ayush Agarwal
(Expert)
12 September 2012
For Personal Return , The Detail of Fixed Asset Does Nt Go in ITR.
But if Business is There, Then It Will Go in ITR, If Not Shown Then Treat This Whole amt Received as Income, & Inspite of This, AO May Take This as Unexplained Income u/s 66 & Can Charge Penalty Also.
But if Business is There, Then It Will Go in ITR, If Not Shown Then Treat This Whole amt Received as Income, & Inspite of This, AO May Take This as Unexplained Income u/s 66 & Can Charge Penalty Also.
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