Capital gain - reg.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 June 2015
Kindly clarify whether Capital gain is applicable in case of sale of depreciable asset? if so how to calculate it.
Kindly clarify whether Capital gain is applicable in case of sale of depreciable asset? if so how to calculate it.
CA Atul Jiwarajka
(Expert)
12 June 2015
Yes. Capital gain is applicable on sale of depreciable asset.
There is only short term capital gain applicable on sale of depreciable asset.
Please find more information on the link below
https://taxguru.in/income-tax/provisions-relating-capital-gains-case-depreciable-assets.html
There is only short term capital gain applicable on sale of depreciable asset.
Please find more information on the link below
https://taxguru.in/income-tax/provisions-relating-capital-gains-case-depreciable-assets.html
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