tax exemption on sale os assets
This query is : Resolved
11 May 2009
Sir,
Case:
The property registered in the name of Firm M/s ABC.
The firm sold out its depreciable assets
on Say 10th May 2009.
Would it eligible for any kind of Tax exemtion u/s 54 etc.
And whether total gain will mbe taxable as STCG
pl clarify
Case:
The property registered in the name of Firm M/s ABC.
The firm sold out its depreciable assets
on Say 10th May 2009.
Would it eligible for any kind of Tax exemtion u/s 54 etc.
And whether total gain will mbe taxable as STCG
pl clarify
11 May 2009
gain on depreciable assets is STCG.no benefit is available u/s 54
11 May 2009
Sir,
Suppose the above case relates to Non depreciable assets|??
Then what should be treatment??
Suppose the above case relates to Non depreciable assets|??
Then what should be treatment??
12 May 2009
Benefit u/s 54 is allowable only for individuals or HUF's.
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
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- Gift Received from nonblood relative
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Rental income gst and it purpose
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- 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
