Sale of office building
This query is : Resolved
15 July 2014
hi friends,
suggest the solution for following,
we(pvt Ltd. Co.) have sold an office land and building situated on that land in last financial year which was acquired in 2002. on building we provide a depreciation but not on land. so, kindly suggest me that whether it is considered as capital gain or business profit.
thanks in advance..
15 July 2014
it will be taxed under capital gain and not as business income.
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