Depreciation and indexing
This query is : Resolved
kritika poddar
(Querist)
13 January 2013
Sir,
If a person purchased a property of Rs 1 lac in 2004 which after Depreciation having B.V of Rs, 80000.
In 2012, the same property is sold at Rs, 150000
Kindly say about the capital gain after indexing and depreciation.
If a person purchased a property of Rs 1 lac in 2004 which after Depreciation having B.V of Rs, 80000.
In 2012, the same property is sold at Rs, 150000
Kindly say about the capital gain after indexing and depreciation.
CA PARAS BAFNA
(Expert)
13 January 2013
In case depreciation is provided on the property, indexation is not allowed.
.
150000-80000=70000 will be short term capital gain.
.
.
150000-80000=70000 will be short term capital gain.
.
kritika poddar
(Querist)
23 January 2013
Sir, how will it be short term capital gain??
CA PARAS BAFNA
(Expert)
23 January 2013
Due to Special Effects.
.
Section 50 is a specific provision for computation of capital gains on depreciable assets. According to special features of this section the capital gains arising on transfer of depreciable assets are are treated as short term only.
.
Section 50 is a specific provision for computation of capital gains on depreciable assets. According to special features of this section the capital gains arising on transfer of depreciable assets are are treated as short term only.
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