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I have a Shop which was used for business purpose and claimed depreciation on same.
Later I have rented it and stopped claiming depreciation.
Now this period of non claiming depreciation is more than 3 years.
So will my gain be short term or long term
And will I get Indexation benefit on sale of asset.
My view: Once Dep. claimed asset is always chargeable under STCG whether dep not claimed in any further one or more year.
Please let me know asap
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