Capital gains on property
This query is : Open
08 January 2017
In case of depreciable fixed asset on which depreciation is availed is converted into investments and post 3 years of such conversion the investment is sold, whether the gain arising would be long term or short term and also the cost to be considered should be book value or cost of acquisition of property.
Please explain
Thanks
Please explain
Thanks
08 January 2017
It is a long term gain and cost will be book value.
08 January 2017
Thank You, is there any case law to support this sir..
08 January 2017
I am not aware of any case law.
14 January 2017
Can indexation benefit be taken on such asset, if so that at what cost i.e at book value
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