12 July 2024
Dear sirs : Kindly guide me on this matter.. (1) Is it mandatary to charge depriciation on Building used as office or as a factory. (2) At the time of sales of such building, what will be calculation for long term capital gains (a) will it be cost of possession and date of possession (b) depriciated value as on date of sales...(3) Can Income tax department send notice for NOT CHRAGING OF DEPRICIAION (by not chraging depriciation, assessee will be paying more Income tax) (4) Assessee has not chraged depriciation on building for many years, so can he start charging depriciation from current year. Kind Regards
CAclubindia
