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
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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.
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