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IT treatment-Loss/Profit on sale of Fixed Assets
Is Loss/Profit on sale of Fixed Assets are disallowed under Income tax? if Yes under which section? How it is treated while computing the Total Income of the assessee?
Replies (6)
Quick Summary
You may show it under STCG and disallow from PGBP
Disallowed from business & profession income, same is taxable under head capital gain
What's the difference between first and second answer ?
Nothing just confirmation to assure querist
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Again stupidity starts (winner of 4 th to 23 th what you called me) This is your game of putting thumbs
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