leasehold property claimed under block of assets methods
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 June 2010
Depreciation has not been charged on leasehold land, and now the assessee is selling the property,
can he claim it under block of assets method.
weather it is long term or short term capital gain.
can he claim it under block of assets method.
weather it is long term or short term capital gain.
09 June 2010
I dont get that how one can sell leased land?
09 June 2010
DEPRECIATION IS NOT PROVIDED AT LAND AT ALL.
LEASEHOLD LAND CAN BE SOLD /TRANSFER .
LONGTERM OR SHORTERM IS DEPEND ON PERIOD OF HOLDING.
LEASEHOLD LAND CAN BE SOLD /TRANSFER .
LONGTERM OR SHORTERM IS DEPEND ON PERIOD OF HOLDING.
Message likes :
1 times
taxindiaconnect
(Expert)
10 June 2010
Just to correct the reply of BK, Depreciation is not available on lease hold land under the Income tax act. For rest of the reply i agree with him
11 June 2010
Please check my reply, I also denying depreciation
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