Re: [aurangabad_ca] Capital gain Query
The gain will be Short Term Capital Gain. But the asset will
become long term if it is held for more than 3 yaers and hence will qualify for the benefits available u/s 54 EC.
If the assessee is individual or HUF, then he can even claim benefit u/s 54 F
CA. Sunil G Ingale
9850058855
----- Original Message -----From: Shamaa KhanSent: Tuesday, January 05, 2010 1:00 PMSubject: Re: [aurangabad_ca] Capital gain Query
If the depreciation is claimed on fixed asset then Long term concept will not apply it will be short term gain/loss even if you sale after 36 months.Also the benifit of section 54F is not applicable for short term capital gain.Regds,shamaa
On Sat, Jan 2, 2010 at 12:45 PM, Nikhil Sabharanjak <sabharanjak@gmail.com > wrote:
Short Term capital gain on sale of fixed assets (Factory Building/Plant & Machinery- Depreciation claimed), if assets are held more than 36 months, can be invested in capital gain bonds u/s 54EC. Whether said benefit is available for investment in residential house u/s 54F.?
Regards
Nikhil Sabharanjak
09821033962
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AURANGABAD_CA is a Yahoo Group for the benefit of CA and other professional. It is especially meant for written discussion within group members and circulate the information among its members. The mail may contain such research/advice/opinion/information/fact provided by any member or moderator and every contain of the mail or information of yahoo is always subject to the Accuracy and of the description of facts.
The Aurangabad_CA , its moderator/owner do not claim that contains in mail/information obtained after reading as a complete and accurate disclosure of relevant fact(s).
Considering all above facts m the transaction based on above mail may not complete without confirming proper statue/authority/person. Therefore any action/transaction taken on basis of this mail do not imply the accuracy or value . Further this Group's Owner/Moderator/Member are not liable for any damages or costs suffered due to action/transaction based on information on this Yahoo Group.
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