tax treatment on sale of truck
This query is : Resolved
13 April 2010
dear all,
pls tell me
what will be the tax treatment on sale of truck on profit which was included in the block of asset for 5 yrs. by a limited company.
pls tell me
what will be the tax treatment on sale of truck on profit which was included in the block of asset for 5 yrs. by a limited company.
14 April 2010
if there is any other asset in the block, then actual consideration received will be reduced from the existing block and depreciation provided on the balance.
If there is no other asset in the block, then any gain will be taxed as Short term capital gain.
If there is no other asset in the block, then any gain will be taxed as Short term capital gain.
30 April 2010
Agree with kartik.
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
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
- Need to correct "Whether it is last installment " response in Form 26 QB
Trending Online Classes
CAclubindia
