Respected Sir..
I have one query,.....
In case of a private company profit of Rs. 100 on sale of individual machinery of block, where whole block is not sale..
What is the treatment of above in calculation of normal tax...
Company is paying MAT.
1 Replies
CS Bijoy
(Expert)
(6394 Points)
Replied 19 September 2011
Profit on sale of Capital asset is treated as capital gain, so tax is calculated as the provision of capital gain tax.
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