tax exemption on sale os assets
This query is : Resolved
11 May 2009
Sir,
Case:
The property registered in the name of Firm M/s ABC.
The firm sold out its depreciable assets
on Say 10th May 2009.
Would it eligible for any kind of Tax exemtion u/s 54 etc.
And whether total gain will mbe taxable as STCG
pl clarify
Case:
The property registered in the name of Firm M/s ABC.
The firm sold out its depreciable assets
on Say 10th May 2009.
Would it eligible for any kind of Tax exemtion u/s 54 etc.
And whether total gain will mbe taxable as STCG
pl clarify
11 May 2009
gain on depreciable assets is STCG.no benefit is available u/s 54
11 May 2009
Sir,
Suppose the above case relates to Non depreciable assets|??
Then what should be treatment??
Suppose the above case relates to Non depreciable assets|??
Then what should be treatment??
12 May 2009
Benefit u/s 54 is allowable only for individuals or HUF's.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
