https://www.taxtmi.com/highlights?id=65957 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 @ 20% and, therefore, even if the capital gains is deemed as short term capital gains in terms of Section 50 of the Act, but for all other purposes including for the purpose of Section 112, the deeming fiction cannot be extended for rate of taxes- AT en-us Fri, 07 Oct 2022 13:10:14 +0530 Fri, 07 Oct 2022 13:10:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65957 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 @ 20% and, therefore, even if the capital gains is deemed as short term capital gains in terms of Section 50 of the Act, but for all other purposes including for the purpose of Section 112, the deeming fiction cannot be extended for rate of taxes- AT Highlights Income Tax Fri, 07 Oct 2022 13:10:14 +0530 https://www.taxtmi.com/highlights?id=65957