If an asset is sold and profit is earned then it will be shown as other income in P/L of firm. But in Income Tax if such block is not deleted on which profit is earned then what should be treatment of such income in ITR as it is not our business income
Menu
Query for profit on sale of fixed asset
Replies (1)
if any asset is sold then if that block of asset value is not nil or comes in minus. then no any treatement under income tax.
Recent Topics :
- Company 3 months old, INC-20A not filed, all 3 of
- How do I choose the Best GST Lawyers in New Delhi
- Loss on sale of residential flat after indexing al
- Short Deduction
- Large mismatch between AIS Business Receipts and G
- Income tax on Australian Stipendiary Steward on 3
- INCOME TAX SECTION 92E
- Queries on Tax Invoice and GST
- Income Tax Auditor Tenure for Small Companies
- Sec 8 company sec 12ab reg
Related Topics :
CAclubindia
