SVSHAH (CA Final) (122 Points)
18 January 2012Can Indexation be claimed on Furniture & Fixtures acquired 4 years back for purpose of Long Term Capital Gain working? Which is sold alongwith the SHOP Property.
However, the assessee is not using it for the business and only deriving RENTAL income from Furniture, as a result no depreciation was charged on the same till date.
Pls. Advise
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 18 January 2012
| Originally posted by : SVSHAH | ||
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Can Indexation be claimed on Furniture & Fixtures acquired 4 years back for purpose of Long Term Capital Gain working? Which is sold alongwith the SHOP Property. However, the assessee is not using it for the business and only deriving RENTAL income from Furniture, as a result no depreciation was charged on the same till date. Pls. Advise |
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when the furniture was brought by assessee alongwith the shop, it is integral part of shop capitalized, and no seperate provisions has to be made for this.
pradeep kumar chhabra
(proprietor)
(27 Points)
Replied 25 January 2012
CAclubindia
