30 March 2016
10 years back I purchased one commercial property. I claimed depreciation for one year only.later on i stopped claiming depreciation. I sold that property this year.can I claim long term capital gain now.
11 April 2016
from 1/4/2002 claim of depreciation is mandatory. Thus it is STCG as per section 50. However you can claim benefit of 54EC by investing in bonds upto Rs 50Lacs. Please also see sale consideration is not less then stamp duty value.
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