Cg

This query is : Resolved

Report Abuse Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2014 How to calculate capital gain on depreciable asset if it is long term asset????

CA Rinkal

CA Rinkal (Expert)
Follow

23 June 2014 dear friend

the asset on which you claim depreciation can never be long term.

if you do not depreciate the assets, then you can calculate CG by applying index cost.

method

sale value less cost of sale........

less: index cost of acquisition+cost or index cost of improvement

diff: capital gain

Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2014 Then what is section 50 of income tax act

Upgrade to CAclubindia Pro. Subscribe Now!

CA Rinkal

CA Rinkal (Expert)
Follow

24 June 2014 please go to the following link, you will find what ever is there..

block of asset...

https://www.caclubindia.com/experts/section-50-of-it-act-1961-727720.asp#.U6jzt5SSxJk