06 December 2013
Industrial Gala is a depreciable asset and gain on sale of the same will be considered as short term capital gain on sale under Income Tax. Is there any provision for claiming exemption from capital gain on such sale?
07 December 2013
Yes. but for replying the query it is necessary to know about the person's status . If an Individual or HUF Section 54F can be resorted. . Otherwise, you may opt to purchase capital gain bonds also. . Investment in the same block of asset can also be done. .
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