A pvt. ltd. company have an asset ( A Property of Building) . Company is going to sale the same in F.Y.16-17 with profit ( Short Term Gain )
Company imported the Water Jet Looms from China in the current F.Y.16-17 , depreciation will be the reason to post a loss in the current year.
so my questions are:
1) Can the loss adjusted against the profit on sale of asset
2) necessary to pay advance tax?
3) how much (%) capital gain tax to be paid
CAclubindia
