Sale of property by partnership firm
This query is : Resolved
08 January 2016
if any firm having an asset which was not used any time for business purpose so no depreciation claimed, whether indexation available at the time of sale or not
Please guide me in this regard.
Regards,
Himani Agrawal
Please guide me in this regard.
Regards,
Himani Agrawal
08 January 2016
Dear
if the asset is not used in business then also you have to claim depreciation.
Also on sale of such asset there always will be short term capital gain/loss irrespective of fact that no depreciation was claimed.
Hence no question arise of indexation benefit.
if the asset is not used in business then also you have to claim depreciation.
Also on sale of such asset there always will be short term capital gain/loss irrespective of fact that no depreciation was claimed.
Hence no question arise of indexation benefit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Exiting partner in partnership firm in gst portal
- TDS _Long term Capital Gain ref.sec 214 Table 2
- NRI INSURANCE ADVISOR
- Traces submitting correction statement error
- Average Cost Of High Quality Diamonds
- Taxability of credit in canara bank ET & T section (NRO)
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
