PROFIT ON SALE OF FIXED ASSETS


(Querist)
09 December 2019
That Assessee Having 6 Truck during the previous year, is engaged in Transporting Goods and Income Declared u/s 44AE of the Income Tax Act. during the year the assessee has sold on truck and earn Rs 150000/ as Profit on sale of Truck
whether this amount is Taxable or not, if taxable under which section and why
please clarify
it's urgent


CA R SEETHARAMAN (Expert)


Click to Talk 09 December 2019
Not taxable as Income Declared u/s 44AE of the Income Tax Act.



You need to be the querist or approved CAclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :






×
close
GST Live Class
Get Income Tax App    |    x