i would know why depreciable assets are to be considered of short term nature for calculation of STCG/STCL u/s 50 of income tax act ,1961?
thxs in advance......
nitin suvarna (C.A FINAL) (828 Points)
05 September 2011i would know why depreciable assets are to be considered of short term nature for calculation of STCG/STCL u/s 50 of income tax act ,1961?
thxs in advance......
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 05 September 2011
Cost of acquisition (COA) change in the fixed assets schedule every year after allowing depreciation, so the asset's COA ( value after depriciation)is not more than 12 month anytime, and to avail LTCG it should be 36 month or more,
STCG applicable for less than 36 months.
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 05 September 2011
because of depreciation charged every year
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