Answer Posted / p. navaneetha krishnan
Capital Gain arises only on the following case.
When the book value of a WDV asset (Land, Builiding /
Shares) is Rs.1,00,000/- and the same is sold for
Rs.5,00,000/- the difference between the sales value - book
value is capital gain.
If the above said assets sold after 3 years it is Long term
Capital Gain / or else it is Short term capital gain.
All Depreciatable assets are falls only on Short Term
Capital Gain." Special Case" - As Per Law.
| Is This Answer Correct ? | 6 Yes | 0 No |
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