Forums

Investment

Financial Management

Why sale of old machine is taken net of taxes.please clarify sir

20240503_150154.jpg

Ramya Telikicherla

Ramya Telikicherla

CA Inter

6K+

03-May-24 15:02

73

Answers (4)

Best Answer

Because the question is silent on the tax rate..so tax is not calculated on the same


AK SPEC VIDS

AK SPEC VIDS

CA Inter

6K+

04-May-24 13:46

Sale of old machine is income and income is subject to tax. So you should deduct tax from such income


AK SPEC VIDS

AK SPEC VIDS

CA Inter

6K+

04-May-24 12:57

AK SPEC VIDS

Sale of old machine is income and income is subject to tax. So you should deduct tax from such income

Ok but why in this sum tax isn't deducted.this is illustration 18 of icai

IMG-20240503-WA0012.jpeg

Thread Starter

Ramya Telikicherla

Ramya Telikicherla

CA Inter

6K+

04-May-24 13:00

AK SPEC VIDS

Because the question is silent on the tax rate..so tax is not calculated on the same

Okk thank you


Thread Starter

Ramya Telikicherla

Ramya Telikicherla

CA Inter

6K+

06-May-24 20:08

May15 | 15% Off on ALL Courses
All the Best