Stcg arise on sale of fixed assets

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2012 Dear Expert,

A partnership firm sold its fixed assets and short term capital gain arises on it, then what rate would be applicable for taxation purpose under IT Act 1961. (It would be 30% or 10%).

In my view, it would be 30%

Please clear my confusion

Thanks

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2012 Dear Experts

How to Prepare CMA Data ? What is the necessity of CMA? What are those ratios we need observe in CMA ? How to Mange Ratios in CMA ? How to Project CMA for upcoming years ? Please give me the complete information (Hidden)in CMA

Thanks & Regards

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 June 2012 STCg is taxable at the normal rates applicable to the assessee.

In this case, it shall be taxable @ 30%.

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