Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 October 2011
In case of sale of asset of Power Sector Unit then the resultant gain which is chargeable under the head "Capital Gain" is a Short Term Capital Gain or Long Term CApital Gain? On what factors it will be decided as Section 50A does not specify this.
30 October 2011
Section 50A refers to Section 48 & 49.
*
Accordingly, in case of Long Term Capital Asset(held for more than 3 years), Indexation will be allowed.
*
Capital Gain :
--------------
It may be noted that to the extent of depreciation claimed the amount realised will be treated as Balancing Charge and will be taxed as Business Income.
Capital Gain arises only in such circumstances where Sales consideration exceeds the Cost of Acquisition (Original Cost and not WDV)
*
*
Accordingly, in case of Long Term Capital Asset(held for more than 3 years), Indexation will be allowed.
*
Capital Gain :
--------------
It may be noted that to the extent of depreciation claimed the amount realised will be treated as Balancing Charge and will be taxed as Business Income.
Capital Gain arises only in such circumstances where Sales consideration exceeds the Cost of Acquisition (Original Cost and not WDV)
*
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Regarding Applicability of Tax Audit u/s 44AB
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- TDS on TRUST
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
