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Capital Gain on sale of machinery(Urgent)
I have sold a jcb in 18-19 and want to file my itr under presumptive basis for business income.Is sale of machinery considered a capital gain or loss.If so please guide which itr form to file.I have been trying to file by itr 3 but i don't seem to find a column where i can fill capital gain on machinery.
Replies (2)
Quick Summary
If you have business of sale and purchase of JCB nachines, then it will be business income and not Capital Gains. and You can file ITR 3 OR ITR 4 for it.
Thank u very much
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