Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 January 2014
A company has a flat registered in its name which had been rented out. The income is assessed under "Income from House Property" since 2001, when the flat was purchased. Depreciation had been charged since then upto 2013. In 2013, the flat had been sold out. The capital gain would be long term capital gain or short term capital gain?
18 January 2014
Since the depreciation has not been claimed in Income Tax Returns, it would be long term capital gain.
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