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Capital gain
why sale consideratio from land or building tranfer to capital account and not capital gain/loss from sale of land or building ? like trading profit & loss from transfer to capital account not gross receipt....
Replies (1)
Trading account has purchase cost of goods & other expenses.... so after all deduction only gain/loss gets transferred.
While Capital account has investment cost of land & building (its under investment and not revenue).... i.e. required to be deducted from sale consideration........
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