A Private Limited Company (Manufacturing) having multiple product line, sells one of is Product line along with its Machinery, Customer's And GoodWill for a Consideration.
What shall be Income Tax Implication on it.
1 Replies
CA Bhargav Nathwani
(CA in Practice)
(8307 Points)
Replied 25 May 2017
For Machinery:
Capital Gain
Sale consideration XXXX
Less: WDV of block of assests XXXX
For Customers & Goodwill:
Sale consideration received (if any) it self chargeable t o capital gain Tax.
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