Tax on sale of assets
This query is : Open
18 July 2015
Partnership firm purchased some warehouses in 1993 but never used and never claimed depreciation on them. But value was adjusted against sale of other block of assets. Now on sale of these assets what tax treatment will be given to profits whether long term capital gains or short term or business income.
18 July 2015
where was this warehouse shown in the books? in fixed assets or investments?
18 July 2015
In fixed assets
18 July 2015
In fixed assets
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
- Required to submit form 10IEA_fy 24-25
- Error whilst validation
- ITR2 Not Validating Short Term Capital Loss as value less than zero
- ITR3
- Rebate u/sec. 87A manually
- ERRROR IN ITR2 FILING
- GSTR ITC relationship
- Ewaybill Material value reg
- NRE account -account type issue in AY2025-26 Tax Filing
- Form 15G eligibility for individuals
- PT interest calculation
- ICWAI-Final
- List of Platform for crypto trading
- Gratuity Fund Audit & ITR
- RCM gst liability and return query
- Hash value error indicated whilst validating itr 2 online
- Allowability of itc on building materials etc for resorts
- HSN details in Table 12 for gstr1
- Profit transfer entry from one branch to head office branch
- RCM on affiliation fees paid to foreign educational institution
Trending Online Classes
CAclubindia
