Capital gain

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CA Parul Saxena (Querist)
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24 March 2021 A property was let out upto Mar 2020. In jan 2021 it was sold....capital gain to be calculated at which perspective as Depreciable Asset or Long term Capital Gain?
As as per Companies act Dep for the period Apr 20 to Jan 21 will be levied in books...so this property to be considered as Depreiable Asset and capital gain to be calculated as Sec 50 or simply calculate Long Term Capitaal Gain?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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24 March 2021 This property to be considered as depreiable Asset and capital gains on this asset will be short term capital gains.

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
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25 March 2021 You need bifurcate the values between land and building. Land will be term if the POH is greater than 24 months.

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