For filing income tax return in case of company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 September 2016
Where we Show sale of Fixed Assets by company In Income tax return?
Sandeep Dharar
(Expert)
27 September 2016
Profit on Sale of fixed assets will b shown in P&L A/c as income from sale of assets and for loss vice versa. In the same way in IT return also we can show it in the P&L A/c under the head Other Incomes("-" ve. is there is loss) We must further disclose it, being not an income derived from regular business activities.
naynsi jaiswal
(Querist)
28 September 2016
thank you sir..
Sandeep Dharar
(Expert)
28 September 2016
U r welcome. Plz show ur appreciation by hitting the thanks button.
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