Capital gains on depreciable assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 March 2013
in case of transfer of depreciable assets why are the gains only short term in nature ?? (is it because once an asset enters the block its individuality is lost )
06 March 2013
That might be the logic.
The income tax act specifically provides that transfer of these assets would be short term capital gain.
The income tax act specifically provides that transfer of these assets would be short term capital gain.
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