Interested to Buy Any Domain ? << Click Here >> for more details...
A person buys and sells a number of vehicles in a tax year
and makes a significant amount of profit in the process.
Will such profit be taxable as capital gain?
- 3 Answers
- 5387 Views
- I also Faced
- E-Mail Answers
Answer Posted / ajoy kumar rai
NO, SUCH PROFIT WON'T TAXABLE AS CAPITAL GAIN. PROFITS
ARISING AFTER A LONG PROCESS ARE TERMED AS CAPITAL PROFITS.
FOR EX- SALE OF OLD MACHNERY, DIVIDEND ETC.
REGARDING THE QUESTION,IT SHOWS A REGULAR INCOME. THERE4
IT WILL B TREATED AS PGBP.
| Is This Answer Correct ? | 1 Yes | 1 No |
Post New Answer View All Answers
what is WCT rate in chhattisgarh
what is the proccesor to caculate the firm assement
How many turnover company active TAN no applicable and how many deduction % of service.
explain the special provisions for computing profit and gains of retail business
How to make a bill of software sale with service tax?
we are getting materials from outside the state and issuing form c to a local party, since the local party is consignee agent of party who sends the materials. what is name this type of transaction? is issuing form c correct and proper? please reply
THERE IS EXCESS TDS REMITTED UNDER SECTION 194 H IN EACH MONTH STARTING FROM APRIL 2011 TO DECEMBER 2011.THIS IS DISCOVERED IN JANUARY 2012. THE QUARTERLY RETURN IS YET TO BE FILED. HOW TO TAKE EXCESS CREDIT IN FILING QUARTERLY RETURNS ? WHETHER EXCESS TDS CAN BE ADJUSTED AGAINST REMITTANCE OF TDS FOR JANUARY 2012 (UNDER 194 H ONLY)AND THE BALANCE ONLY CAN BE REMITTED? IF SO, HOW TO GIVE THE CHALLAN REFERENCES IN THE RETURN?
What is US Tax Accounts? Can I get any information where from I take full knowledge about US Taxation?
How to adjustment of CST ? and also tell me about C-Form affairs ?
AS PER VAT AUDIT WE HAVE REFUND OF RS.25000/- ON PURCHASE OF FIXED ASSETS WHICH WE DID NOT CLAIM LAST YEAR, NOW WHAT ENTRY SHOULD WE PASS IN BOOK. ITS URGENT
WHEN I AM DOING 1ST TIME VAT RETURN E-FILLING, WHAT IS PROCESS FOLLOW HOW GET E-RETURN FILLING PERMISSION HOW APPLY FOR GET THE USER I.D & PASSWORD FOR E-RETURN FILLING IF ELSE, PLEASE GIVE ME THE RIGHT ANSWER ON MY E-MAIL ADDRESS ON sonidilip87@yahoo.com
If concern supply garments from outside purchase to movie producer for their production then is it maintain Service Tax if yes then how and at first what steps I have to take?
Please guide me... We are dealing in trading of industrial material. What is the difference between importer, 1st stage dealer, 2nd stage dealer and 3rd stage dealer? Whether all of these above can pass on the excise duty to the end user. Please tell me and thanks in advance.
Which income is considered as accrued income?
why VAT not charged in deemed sales bill.
