i would know why depreciable assets are to be considered of short term nature for calculation of STCG/STCL u/s 50 of income tax act ,1961?
thxs in advance......
2 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 05 September 2011
Cost of acquisition (COA) change in the fixed assets schedule every year after allowing depreciation, so the asset's COA ( value after depriciation)is not more than 12 month anytime, and to avail LTCG it should be 36 month or more,
STCG applicable for less than 36 months.
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 05 September 2011
because of depreciation charged every year
Recent Topics
- What is tds12
- SECTION 148 PROCEEDING
- GST AUDIT 01 - NOTICE
- Capital gain purchase date
- Transmission of deceased's shares in physical form
- Income tax notice but unable to file updated retur
- Income tax depreciation deductions
- GST Notice (Under Section 73)
- Asset Declaration in ITR2 for flat purchased in jo
- Active pan but invalid
Related Threads
Trending Online Classes
-
PF & ESI Course - Labour Code 2019 Along with Examples and Case Studies
Mr.Balamurugan Ranganathan13 March 2025
CAclubindia
