capital gain
This query is : Resolved
29 July 2009
the assessee has used the shop primises for business purposes for some years and claimed depreciation on the same and later rented out the same shop, now in 2008-09 he sold that shop . what will be the effect of same on capital gain and how will the cost of acquisition be calculated.
29 July 2009
For the period of rent you need to calculate deemed dep on shop.
29 July 2009
there will be short term capital gain u/s 50c taking the wdv of the shop at the begining of the year in which shop was sold
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