10 January 2019
Firm ABC has 3partners it has a leasedhold land since 1990 for 99 yrs .. firm constructed a shed on it with costed around Rs.120000 in year 2003 in fy 18-19 firm sells the shed @ 12lac .. in accounting books the cost of construction is fully depreciated ..please tell me what would be the capital gain tax on the said property??
CAclubindia
