16 April 2012
sir, suppose i am the properioter of firm n i am claiming depreciation on office building. now if i close my business and after 3 year of closing if i sell that building then what will be the tax treatment. what will be the cost of building? what about indexation?. what if i sell that building within 3 year of closing?
16 April 2012
You have taken depreciation on the building so this building has to be taken as short term capital gains before 3 years. Now, after 3 years you can claim capital gains with 3 years indexation on wdv
CAclubindia
