Exemption of income tax on short term capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 November 2011
If any person claimed depreciation on his residential/commercial property and after few years its written down value for the same property will nil. If the same person sale the same property on which he have taken depreciation, total sale consideration will applicable for short term capital gain.
In that case if he purchase another residential property Exemption u/s 54 on short term capital gain allowable or not?
In that case if he purchase another residential property Exemption u/s 54 on short term capital gain allowable or not?
CA MANOJ GUPTA
(Expert)
07 November 2011
EX WILL NOT BE AVAILABLE SINCE THE INCOME FM PROP SOLD IS NOT CHARGEABLE TO TAX AS INCOME FROM HP
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
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