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section 54EE
exemption is available for STCG from depreciable asset held for more than 36 months.
Replies (4)
Yes.
Depreciable Assets held for more than 36 months do not lose its Character of being a Long Term Capital Asset even though Sec 50 is applied.
but sir in income tax law this thing is not mentioned as in 54EC
The Kolkata bench of ITAT recently announced that the depreciable assets which had been held for more than 36 months prior to its sale, does not lose its character of being a long term capital asset, even though it might get taxed as short term capital gain in terms of deeming fiction provided u/s 50 of the Act.
Read more at: https://www.taxscan.in/depreciable-assets-more-than-36-months-lose-character-being-long-term-capital-asset-itat/16867/
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