Capital gain
This query is : Resolved
CA BIREN SHAH
(Querist)
16 April 2012
sir,
suppose i am the properioter of firm n i am claiming depreciation on office building. now if i close my business and after 3 year of closing if i sell that building then what will be the tax treatment. what will be the cost of building? what about indexation?. what if i sell that building within 3 year of closing?
suppose i am the properioter of firm n i am claiming depreciation on office building. now if i close my business and after 3 year of closing if i sell that building then what will be the tax treatment. what will be the cost of building? what about indexation?. what if i sell that building within 3 year of closing?
16 April 2012
You have taken depreciation on the building so this building has to be taken as short term capital gains before 3 years. Now, after 3 years you can claim capital gains with 3 years indexation on wdv
CA PARTH SHAH
(Expert)
23 April 2012
I THINK IF ASSET IS A DEPRECIABLE ASSET THEN SECTION 50C WILL APPLY SO QUESTION OF INDEXATION WILL NOT COME
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
- EPF ECR NEW FILE SEP 17TH 2026
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- Under marginal scheme
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Non filing of I T Returns
- TAX AUDIT ON PROFESSIONAL INCOME
- TDS on Fixed Assets purchased
- Oct 2025 Invoices
- 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
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
