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PGBP or Capital gains

This query is : Resolved 

Pls suggest whether sale of Fixed assets is a capital receipts or not. We are the manufacturer of Automotive Chain and Kits. In the last FY we sale our two machinery due to their old age. Pls suggest this will be capital assets or not. We have to report it in the Tax Audit report....


Sale of depreciated assets is only PGBP.


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