Dear Sir/Madam,
one of the my claint sold property now where I can show capital gain profit ?? can I show in profit n loss ac and in balance sheet where I can show asset sold amt kindly advise to us
Show it in Capital Account
3 Replies
rama krishnan
(12244 Points)
Replied 20 August 2018
you cannot show it in p & l unless it was used for business purposes... capital gain to be computed separately and tax to be paid accordingly. this sale consideration reduced by capital gain tax can be introduced in to the capital account
Recent Topics
- Interest free loans from directors in private limi
- Section 194T
- Paying GST on Residential House Construction
- Gst credit ledger input
- Income Tax Filing after Portal Deadline
- LTCG u/s 54 -Time Period Related
- Clarification -GST registration
- TDS on commercial bus insurance payment
- Do we need Environmental Clearance certificate for
- GST Rate confussion
Related Threads
CAclubindia
