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Sale of immovable non depriciable assets
Business asset(industrial shed) is sold during the financial year, on which depriciation is not charged from date of purchase.
So, whether LTCG will be charged or STCG. Please give refrence of your observation
Replies (2)
If it is held for more than 36 months then it is long term capital gain. It doesn't matter if it is a business asset because provisions of section 50A apply only on depreciable assets. As this is a non depreciable asset, normal provisions of period of holding will decide the nature of capital gain.
Yes agreed with Nikhil.
If it's held for more than 3 years then Long term, else short term.
If it's held for more than 3 years then Long term, else short term.
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