Hello sir
My question is if we have sold a non wasting chattel for 6200 and bought it for 5800 and incurred 300 legal cost...
Will it considered as the category for which 5/3 rule applies or (5800+300)=6100 or Normal Computation applies...?
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Non wasting chattels
The 5/3 rule simply computes the MAXIMUM gain - if as in your example the ACTUAL gain is lower then the actual gain will apply - have you used the study notes and lectures?
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