08 January 2016
if any firm having an asset which was not used any time for business purpose so no depreciation claimed, whether indexation available at the time of sale or not
08 January 2016
Dear if the asset is not used in business then also you have to claim depreciation. Also on sale of such asset there always will be short term capital gain/loss irrespective of fact that no depreciation was claimed. Hence no question arise of indexation benefit.
CAclubindia
