Dear all,
I have queery about Plant&Machinery purchased and utilised for business purpose for more than 36 months
It was sold and my question is is it comes under capital gain.Please specify the reasonable section
pallanti kumari (Articuled Assistant) (44 Points)
04 August 2014Dear all,
I have queery about Plant&Machinery purchased and utilised for business purpose for more than 36 months
It was sold and my question is is it comes under capital gain.Please specify the reasonable section
CA PRIYUL SHAH
(JOB)
(901 Points)
Replied 04 August 2014
If block of assets ceased to exist then it will be under capital gain.
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 04 August 2014
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