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Eduncle posted an MCQ
October 13, 2019 • 22:19 pm 0 points
  • UGC NET
  • Commerce

The Income from the sale of a machinery used in business is treated as :

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    Eduncle Best Answer

    According to section 50 of Income tax act if an assessee has sold a capital asset forming part of block of assets (building, machinery etc) on which the depreciation has been allowed under Income Tax Act, the income arising from such capital asset is treated as short term capital gain.

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