Machinary sale
JOEY TRIBIONI (Article) (200 Points)
07 January 2016
Why does movable property comes under capital gains when its only profits.. (sec 50)?
JOEY TRIBIONI (Article) (200 Points)
07 January 2016
CA Mehul Chudasama
(Chartered Accountant)
(618 Points)
Replied 07 January 2016
Because it's included in Defination of Capital Asset. and Simple our goverment make the law and we have to follow
CA Mehul Chudasama
(Chartered Accountant)
(618 Points)
Replied 08 January 2016
First Thing You Have To Be Clear That All The Assessee Is Not Doing Trade In Movable Property So For Them It Is Investment... If They Are Traded In Movable Property Then Only They Will Classfied As Stock In trade and Question of Profits Arises and Will Taxable Under PGBP...
CAclubindia
