Capital gain
This query is : Resolved
Quick Summary
CA Parul Saxena
(Querist)
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?
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
(Expert)
24 March 2021
This property to be considered as depreiable Asset and capital gains on this asset will be short term capital gains.
25 March 2021
You need bifurcate the values between land and building. Land will be term if the POH is greater than 24 months.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
