11 February 2013
Sale of spoiled items such as potatoes purchased in lots will be considered as income and is it taxable? Sale of used things (scrap), amount recovered from it is huge. will it be considered as income? Kindly suggest me on the above queries
12 February 2013
can i claim purchase price of above items as deduction from income as the above items are not used for businnes purpose. am i eligible for deduction or i hve to pay tax on entire whole????
CAclubindia
