PROFIT ON SALE OF FIXED ASSETS
This query is : Resolved
AMIT AGRAWAL
(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
whether this amount is Taxable or not, if taxable under which section and why
please clarify
it's urgent
CA R SEETHARAMAN
(Expert)
09 December 2019
Not taxable as Income Declared u/s 44AE of the Income Tax Act.
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