Treatment of Profit on sale of fixed assets
This query is : Resolved
19 July 2025
Could you please explain the accounting treatment and tax computation for the sale of a fixed asset when there is no capital gain or loss?
19 July 2025
Generally the sale proceeds gets reduced from the block of assets.
19 July 2025
In case of profit on sale of fixed assets, what is the treatment sir?
19 July 2025
The total amount is credited to the block of assets, so the profit is not accounted. Whenever block of assets ceases to exist, then the profit is considered as Short term capital Gain.
25 September 2025
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