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what is the capital gains
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Answer / rabindra mallick
Capital Gain Means profit on Sale of Fixed Assets calculate
after depreciation.
It can illustrate as per below..
If a Furniture was purchased on Dt. 01.04.10 of Rs. 5 Lakh.
& sale on 28.02.2012 of Rs. 400,000.00
As on 01.04.11 Rs. 500,000.00
Less: Depreciate @ 18.1% on 31.03.2011 Rs. 90,500.00
As on Dt. 01.04.11 Rs. 409,500.00
Less: Dep. @ 18.1% on 28.02.2012 Rs. 67,824.00
As on 28.02.2012 Rs. 341,676.00
Less: Sale Rs. 400,000.00
Balance (Capital Gain) Rs.58,324.00
| Is This Answer Correct ? | 18 Yes | 3 No |
Answer / girish
Capital gains is the profit on sale of capitalised assets
for the year.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / manoj s
SECTION 45 OF INCOME TAX ACT 1961 SPEAKS ABOUT CAPITAL
GAIN..
CONDITION TO BE FULFILLED:
1. THERE SHOULD BE A CAPITAL ASSETS
2. SUCH CAPITAL ASSETS HAS TO BE TRANSFERRED BY THE ASSESEE
3.. SUCH TRANSFER SHOULD BE IN THE CURRENT PREVOUS YEAR..
4.. FROM THAT TRANSFER ANY PROFIT OR GAIN SHOULD ARISE...
5.. THE GAIN SHOULD BE NOT BE EXEMPTED FROM SEC
54,54B,54EC,54D,54F,54G,54GA
| Is This Answer Correct ? | 1 Yes | 0 No |
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