Capital gain tax to a partnership firm on selling a shed
This query is : Resolved
ca cs akansha juneja
(Querist)
10 January 2019
Firm ABC has 3partners it has a leasedhold land since 1990 for 99 yrs .. firm constructed a shed on it with costed around Rs.120000 in year 2003 in fy 18-19 firm sells the shed @ 12lac .. in accounting books the cost of construction is fully depreciated ..please tell me what would be the capital gain tax on the said property??
Nikhil Kaushik
(Expert)
10 January 2019
are you selling the construction without selling the leasehold rights in the underlying land?
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