DEAR FRIENDS,
A FIRM WHICH IS ENGAGED IN SOLVENTS MANUFACTURE INCURRED LOSS FOR THE PAST TWO YEARS & DURING THE FY 10 - 11 THE MANAGEMENT HAS DECIDED TO SELL THE UNIT AS ON WHEREIS BASIS. MAY I KNOW THE TAX IMPLICATION IN THE HANDS OF THE FIRM ON SALE OF THE UNIT BY ASSUMING THE FOLLOWING FIGURES
TOTAL FIXED ASSETS AS PER BS AS ON 31.03.2010 RS.50,00,000/- (INCLUDES L&B,P&M,COMPUTERS,FURINTURE)
SALE CONSIDERATION (ESTIMATED) RS.1,50,00,000/- FOR SALE OF ALL THE ABOVE MENTIONED ASSETS.
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