Capital gain
This query is : Resolved
10 January 2017
can i claim improvement cost under capital gain while sale of a bus?
how much is approximate fair value of a normal bus in 1981-82?
how much is approximate fair value of a normal bus in 1981-82?
Narendra Kumar Gupta
(Expert)
10 January 2017
Bus is not a capital asset except it is held as business assets.. If it is a business asset and it is depreciate assets, WDV will be the cost of acquisition cost... If the improvement cost has been added to WDV, then also WDV on the date of sale will be acquisition cost.
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