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Sale of property by partnership firm

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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
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Ankur Singhal

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Ankur Singhal (Expert)
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.
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