Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2011 Year 2011 This

Profit on Sale of depreciable assets may be computed as short ...

Income Tax

June 29, 2011

Profit on Sale of depreciable assets may be computed as short term capital gain u/s 50, but eligible for exemption u/s 54F if it is a long term asset.

View Source

 


 

You may also like:

  1. Deduction u/s 54EC - short capital gain arising on sale of depreciable asset - it cannot be said that section 50 converts long-term capital asset into a short-term...

  2. Exemption u/s 54EC - eligibility of capital gain from sale of depreciable assets being taxable as short term capital gain u/s 50 – overriding provision - benefit of...

  3. Short term capital gain on sale of depreciable assets is not profits and gains of any business or profession - HC

  4. Whether long term loss can be set-off against capital gains u/s 50 from sale of depreciable assets - Held yes - HC

  5. Non setting off carried forward business loss against the Capital Gain computed u/s 50 - sale of depreciable assets - legal fiction is to be deemed the capital gain as...

  6. Rate of tax on sale of depreciable assets - STCG vs LTCG - as per Section 112 of the Act, the tax on long term capital gains on transfer of a long term capital asset is...

  7. Exemption u/s 54F - short term capital gain from sale of depreciable assets u/s 50 - sale of depreciable assets being factory shed is eligible for exemption u/s 54F of...

  8. Deduction u/s 54EC - LTCT or STCG - Investment of consideration against sale of depreciable assets - Section 50 cannot convert long term capital assets into short term...

  9. Loss arising on the demolition of a depreciable asset - where an asset is demolished, and the block of asset ceases to exist, the difference between the written down...

  10. Rate of tax - 20% or 30% - share of depreciable assets - In the present case, it is not the plea of the Revenue that the property from which the capital gains arose was...

 

Quick Updates:Latest Updates