Dear Sir/Madam,
one of the my claint sold property now where I can show capital gain profit ?? can I show in profit n loss ac and in balance sheet where I can show asset sold amt kindly advise to us
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Capital gain
Replies (3)
Show it in Capital Account
Very write advice.
you cannot show it in p & l unless it was used for business purposes... capital gain to be computed separately and tax to be paid accordingly. this sale consideration reduced by capital gain tax can be introduced in to the capital account
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