1. Is Minimum Alternate Tax as per section 115JB is applicable on profit on sale of Fixed assets of the company ?
2. Normal Tax is not applicable due to Long term capital loss on such assets. In earlier year ,there were business losses in both as per Company Act and Income Tax Act.
O P Bagla & Co LLP
New Delhi
CA Inter
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Boutique Investment Bank & Transaction Advisory Firm
Gurgaon
CA
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CAclubindia
