Taxibility of Goodwill
This query is : Resolved
09 September 2008
What is the taxibility of Goodwill arising due to sale or business transfer ?
09 September 2008
if goodwill was purchased then cost will be deducted & bal will be taxable as long term/ short term capital gains subject to second proviso to sec 48.
if it was not purchased then whole amount is chargeable as long term/short term capital gains.
if it was not purchased then whole amount is chargeable as long term/short term capital gains.
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