Tax on sale of intangible assets under development read
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 April 2014
What would be the income tax implications on sale of "intangible assets under development"? Would it be capital gains or income from business and profession.
Herein, "intangible assets under development" relates to incomplete software developed by the company.
Herein, "intangible assets under development" relates to incomplete software developed by the company.
Rupesh Jain
(Expert)
19 April 2014
IT IS TAXABLE UNDER THE INCOME FROM BUSINESS AND PROFESSIONAL HEAD.
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