A Private Limited Company (Manufacturing) having multiple product line, sells one of is Product line along with its Machinery, Customer's And GoodWill for a Consideration.
What shall be Income Tax Implication on it.
NIKHIL GADA (AUDIT ASSISSTANT) (100 Points)
25 May 2017A Private Limited Company (Manufacturing) having multiple product line, sells one of is Product line along with its Machinery, Customer's And GoodWill for a Consideration.
What shall be Income Tax Implication on it.
CA Bhargav Nathwani
(CA in Practice)
(8307 Points)
Replied 25 May 2017
For Machinery:
Capital Gain
Sale consideration XXXX
Less: WDV of block of assests XXXX
For Customers & Goodwill:
Sale consideration received (if any) it self chargeable t o capital gain Tax.
CAclubindia
