captial gain on sale of truck
This query is : Resolved
12 April 2010
dear all,
a compnay sold a truck on profit after taking the consideration of depriciation pls tell the tax treatment of the profit in this case.
thanks
a compnay sold a truck on profit after taking the consideration of depriciation pls tell the tax treatment of the profit in this case.
thanks
12 April 2010
As you know when company purchase asset it is included in the block of asset. It doesn't matter what is the period of holding as it is chargeble as short term capital gain.
You didn't mention about block.
You didn't mention about block.
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