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PGBP & CAPITAL GAINS
Direct Taxation
"As per section 2(14), a capital asset includes intangible assets such as licenses and goodwill. However, profits or gains arising from the sale of an "import license" are treated as income under the head PGBP. This raises the question of why it is not considered a capital asset and whether the sale is not treated as a "transfer". Clarify
Answers (6)
sushma verma
Because license has been imported for doing business so that's why I think it will be taxable under pgbp
Sorry... generally License is issued by the respective authorities of India it is not "imported" from outside (to my knowledge)
Thread Starter
anandhu ksSorry... generally License is issued by the respective authorities of India it is not "imported" from outside (to my knowledge)
My mistake....I mean that if the firm will sold the import license.....which he uses for their business so it's income will come under the head pdbp....
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