Capital gain on sale of building.
This query is : Open
11 October 2016
Hello everyone, My query is regarding Capital gain on sale of building after 36 mths. As per me, if building held as business asset then capital gain will be always short term (Sec50) and if building held as personal asset then long term. Whether my understanding is correct?
12 October 2016
Your understanding is correct provided depreciation is claimed on the building in business.
12 October 2016
Thank you so much sir.
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