Book Profit from revaluation of fixed assets
This query is : Resolved
25 November 2008
Whether book profit earned from revaluation of fixed assets will be taxable or exempt. Please suggest with section details.
25 November 2008
Notional profits are not taxable.
25 November 2008
Notional profits are not taxable.
25 November 2008
There is no real cash inflow. Refer section 2(24) for the definition of income.
So it is not taxable.
So it is not taxable.
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