Frofit on sale of asset
This query is : Resolved
26 November 2014
Hello,
Can anybody please let me know where to show the following in ITR-6.
1) Profit on sale of asset credited to P&L.The relevent asset block exist.
2) In books credited to P&L Exchange gain on payment to capital creditor relating to asset addition.which was less from asset addition for IT purpose.
Thanks in advance
Can anybody please let me know where to show the following in ITR-6.
1) Profit on sale of asset credited to P&L.The relevent asset block exist.
2) In books credited to P&L Exchange gain on payment to capital creditor relating to asset addition.which was less from asset addition for IT purpose.
Thanks in advance
Amol S Joglekar
(Expert)
26 November 2014
01. Show it under sheet BP....A 3b
02. Show this under sheet BP....A 5c
02. Show this under sheet BP....A 5c
27 November 2014
Thank for your reply...
I have following observation.
01.If the asset exist how we can say it is a capital gain if shown under BP-A-3b
02.It can not be treated as exempt income by showing it under BP-A-5c.
Can we show both of these under BP-A-31-Any other amount allowable as deduction
I have following observation.
01.If the asset exist how we can say it is a capital gain if shown under BP-A-3b
02.It can not be treated as exempt income by showing it under BP-A-5c.
Can we show both of these under BP-A-31-Any other amount allowable as deduction
Amol S Joglekar
(Expert)
27 November 2014
the block of Asset exist after sale of some of the assets of block and hence NOT to be shown as capital gain
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