In partnership firm business there is loss on sale of car which was its fixed asset. Is it allowed or disallowed in itr ?
Menu
Loss on sale of car disallowed in itr ?
Replies (3)
Allowable
But it is capital loss & sec 37 disallow capital loss.
U/s 41(2) allow loss on depreciable assets...section 37 disallow capital loss and car is not a capital assets
Recent Threads
- Are AI tools like ChatGPT actually useful for CA w
- UK TAX (HMRC) HELP WITH INVESTIGATIONS, DISPUTES,
- Payment processor not transferring or refunding pa
- Form 16 format
- 17(5) Blocked ITC
- Transfer of equity shares to original owner
- Login credentials and payment acknowledgement not
- Export sales not realised payment not received fro
- Capital gain account amount utilisation
- Form 26QB – Section 194-IA: TDS on Full Cons
Related Threads
CAclubindia
