A company proposes to transfer vacant land held by it as current asset into fixed asset during the year.
Whether, the market value (value u/s 50C) and the cost will be taxed as income from business?
If yes, when ? whether during the current year or at the time sale of asset?
thanks & regards
b shanmuganathan
Whether, the market value (value u/s 50C) and the cost will be taxed as income from business?
If yes, when ? whether during the current year or at the time sale of asset?
thanks & regards
b shanmuganathan