capital gain

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127 Points Joined February 2018
goodwill sold 25L faier market value on 1-4-1981 was rs. 5L compute capital gainor loss for a.y. 2017-2018
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On 22 February 2018 at 10:52 Report
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1095 Points Joined February 2017
it depends on facts of the case.Such as

-whether Goodwill is for business or profession.

-whether it is self generated or purchased.
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On 22 February 2018 at 13:50
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127 Points Joined February 2018
it is for b$p
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On 22 February 2018 at 13:58
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1095 Points Joined February 2017
if self generated then COA is Nil else purchased price.
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On 22 February 2018 at 14:20
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127 Points Joined February 2018
would u like to solve this question pls...??
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On 22 February 2018 at 14:23
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1095 Points Joined February 2017
is Goodwill is part of block of assets on which depreciation is claimed?
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On 22 February 2018 at 14:31
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127 Points Joined February 2018
no it is not
answer will be 312500...but how
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On 22 February 2018 at 14:37
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Assistant
1095 Points Joined February 2017
I think it's basic problem..
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On 22 February 2018 at 14:39
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1095 Points Joined February 2017
take Indexed COA on 01.04.81 and deduct from sale consideration.
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On 22 February 2018 at 14:40
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127 Points Joined February 2018
still m not getting the answer..
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On 22 February 2018 at 14:45
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Assistant
1095 Points Joined February 2017
why dear? which. book? IPCC..?
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On 22 February 2018 at 14:59
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127 Points Joined February 2018
nope..
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On 22 February 2018 at 15:13
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127 Points Joined February 2018
it's from bcom book of m.d.s universiry ajmer
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On 22 February 2018 at 15:13
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1095 Points Joined February 2017
please copy paste full problem....
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On 22 February 2018 at 15:14
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127 Points Joined February 2018
manish sold goodwill of his trade on 1-12-2016 for rs. 25L. the goodwill was purchased on 1-1-1976 for rs. 250000. it's faier market value on 1-4-1981 was rs. 5 L . compute capital gain /loss for the a.y. 2017-2018
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On 22 February 2018 at 15:22


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