Profit/Loss on sale of fixed asset
saikiran (cpt) (52 Points)
20 March 2017
In Schedule - III where we have to show profit/Loss on sale of fixed asset.
2 Replies
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 20 March 2017
loss on sale of fixed asset grouped under administrative expenses and profit on sale under other income kindly note both are non operating expenses/Income
CA Raj Doshi
(Practising CA)
(8944 Points)
Replied 21 March 2017
Can be grouped under Exceptional items if the profit or loss is not an ordinary one. ( Quantum is Huge )
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