Ltcg on sale of off premises


Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 October 2012 Date of Sale-30.04.2012
Assesse-Individual
Asset-off premises
what are various options to save LTCG tax?
pl reply at the earliest.thanks

26 October 2012 If such premises is depreciated asset then Long term capital gain tax will not applicable. Only short term capital gain tax applicable. Please clarify you are saying it is office buildings i.e you claimed depreciation for your business expenditure confirm me?.

OM SAI SRI SAI JAI JAI SAI

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 October 2012 NO DEPRICIATION CLAIMED

26 October 2012 Even though depreciation not claimed in the books of account according to the income tax act those assets which are held for the purpose of business is assumed deemed depreciation and has to compute short term capital gain tax according to the difference between sale vale and WDV according to the IT act. So as per my your gain is not LTCG it is STCG. However wait at see for other expert's decisions and they may can support their answer along with any decisions.

OM SAI SRI SAI JAI JAI SAI

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 October 2012 OK SIR THANKS.I WILL WAIT.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news



Answer Query



Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details