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LTCG ON SALE OF DEPRECIABLE ASSETS

This query is : Resolved 
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(Querist)
12 February 2021 FACTS :-
1. Land was inherited.
2. Assessee constructed hotel building on it during FY 1995-96
3. Hotel business has been running since then and Depreciation is being charged on Hotel bldg.
4. Now opening balance of Building as on 01/04/20 is say Rs 75.00
5. How to calculate LTCG if assessee wants to sell this Hotel for Rs 200.00 ??

Please help...!!
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
28 September 2021 You need to segregate first the sale price of both the land and building.
For building the cost price is not indexed, though final gain is treated as LTCG.
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