Taxability of capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 November 2016
Dear Experts,
Pls clarify while calculating gains of land & building weather benefit of CII will be available on depreciable assets or not,
Regards
Suresh
Pls clarify while calculating gains of land & building weather benefit of CII will be available on depreciable assets or not,
Regards
Suresh
15 November 2016
No, because gain on depreciable asset is 'short term'.
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 November 2016
Sir i had not shown the land & building in books and income tax allow dep. On building but i had not availed the dep. Even on building. So pls tell me on sale of land & building can i take the benefit of CII
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