Frofit on sale of asset

This query is : Resolved

amol (Querist)
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26 November 2014 Hello,

Can anybody please let me know where to show the following in ITR-6.
1) Profit on sale of asset credited to P&L.The relevent asset block exist.

2) In books credited to P&L Exchange gain on payment to capital creditor relating to asset addition.which was less from asset addition for IT purpose.

Thanks in advance

Amol S Joglekar

Amol S Joglekar (Expert)
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26 November 2014 01. Show it under sheet BP....A 3b
02. Show this under sheet BP....A 5c

amol

amol (Querist)
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27 November 2014 Thank for your reply...

I have following observation.

01.If the asset exist how we can say it is a capital gain if shown under BP-A-3b
02.It can not be treated as exempt income by showing it under BP-A-5c.

Can we show both of these under BP-A-31-Any other amount allowable as deduction

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Amol S Joglekar

Amol S Joglekar (Expert)
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27 November 2014 the block of Asset exist after sale of some of the assets of block and hence NOT to be shown as capital gain