PGBP or Capital gains


(Querist)
09 November 2019
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....


CA R SEETHARAMAN (Expert)


Click to Talk 09 November 2019
Sale of depreciated assets is only PGBP.


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