03 May 2018
Land had been purchased in a Pvt Ltd Co in the year 2007-08 and Building was constructed and completed in the year 2008-09 and depreciation claimed every year on Building as per Income-tax Act. during the FY 2017-18 land and building had been sold. for calculating long term capital gain land is calculated long term under cost inflation index and building is calculated as w.d.w as on 01-04-2017 now the land is more than three years and it is covered long term capital gain since depreciation claimed on building how to treat whether it is long term gain or short term.gain
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