https://www.taxtmi.com/forum/issue?id=117809 A partnership firm is selling a factory where land (acquired earlier) and a separately recorded building (constructed later) have been used; depreciation was claimed on the building and no reinvestment exemptions will be availed. The firm asks whether the building's construction cost can be merged into the land's cost for capital gains purposes or shown as improvement cost, and requests guidance on reducing capital gains tax. en-us Thu, 10 Feb 2022 19:36:07 +0530 Thu, 23 Jan 2025 15:54:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117809 A partnership firm is selling a factory where land (acquired earlier) and a separately recorded building (constructed later) have been used; depreciation was claimed on the building and no reinvestment exemptions will be availed. The firm asks whether the building's construction cost can be merged into the land's cost for capital gains purposes or shown as improvement cost, and requests guidance on reducing capital gains tax. Discussion-Forum Income Tax Thu, 10 Feb 2022 19:36:07 +0530 https://www.taxtmi.com/forum/issue?id=117809