sorry word omitted
This query is : Resolved
21 July 2016
sorry , I omitted a word not , so the line is capital gain is not taxable on transfer of goodwill of profession.
21 July 2016
Is Goodwill appearing in balance sheet of that profession?
21 July 2016
Please suggest me both situations,appearing as well as not.
21 July 2016
01. If it appears in books of accounts : capital gain is to be worked out taking its actual cost as cost of acquisition.
02. If it is not appearing in books of accounts : capital gain is to be worked out taking its cost of acquisition as NIL
02. If it is not appearing in books of accounts : capital gain is to be worked out taking its cost of acquisition as NIL
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