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Income Tax - Highlights / Catch Notes

Home Highlights January 2021 Year 2021 This

Capital gain on sale of buildings - depreciable assets - LTCG or ...

Income Tax

January 4, 2021

Capital gain on sale of buildings - depreciable assets - LTCG or STCG - fiction created in sub-section (1) & (2) of Section 50 has limited application only in the context of mode of computation of capital gains contained in Sections 48 and 49 and would have nothing to do with the exemption that is provided in a totally different provision i.e. Section 54E - AT

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