sale of hoarding board - tax implication
This query is : Resolved
26 April 2009
case is as follows :
Company owns Hoarding Board which is classified under Fixed Assets catg which also fetches rental income.
Now this fixed is sold out.
In books will be considered as business income?
And while preparing computation will this profit be taxed under capital gain or business income.
case is as follows :
Company owns Hoarding Board which is classified under Fixed Assets catg which also fetches rental income.
Now this fixed is sold out.
In books will be considered as business income?
And while preparing computation will this profit be taxed under capital gain or business income.
26 April 2009
Being a capital asset, it will be taxed under capital gains.
27 April 2009
how it can b capital assets
27 April 2009
Aren't fixed assets the capital assets as per sec 2(14) of Income Tax Act.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- EPF FULL & FINAL RULES IN 2026
- Eway bill generation from place other than registeted
- Experts need help
- Management System (IMS)
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Rental income gst and it purpose
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
