https://www.taxtmi.com/forum/issue?id=117438 Profit on sale of a fixed asset is shown in the P&L under Other Income and included in net profit for accounting. For tax computation the Companies Act and Income Tax Act bases may differ, and the sale profit is treated under capital gain provisions and addressed separately when computing taxable business income. en-us Sat, 21 Aug 2021 17:32:26 +0530 Thu, 23 Jan 2025 15:54:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117438 Profit on sale of a fixed asset is shown in the P&L under Other Income and included in net profit for accounting. For tax computation the Companies Act and Income Tax Act bases may differ, and the sale profit is treated under capital gain provisions and addressed separately when computing taxable business income. Discussion-Forum Companies Law Sat, 21 Aug 2021 17:32:26 +0530 https://www.taxtmi.com/forum/issue?id=117438