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

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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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