Capital Gain on Sale of Shop Premises

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....apital Gain on Sale of Shop Premises<br> Query (Issue) Started By: - Mihir Modak Dated:- 28-8-2025 Last Reply Date:- 1-9-2025 Income Tax<br>Got 1 Reply<br>Income Tax<br>The shop premises were used as ....

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....retail store for many years. The income tax return is filed under 44AD for all past years. Accordingly no depreciation was shown separately in returns. Now the shop is sold. whether it will be conside....

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....red as depreciable asset for calculation of capital gains? Reply By Rajan Kumar and associates: The Reply: As per Sec. 44AD(3) of the Income Tax Act, 1961 -&nbsp;The WDV of any asset shall be deemed....

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.... to have been calculated and actually allowed the deduction.&nbsp; Hence the&nbsp;shop will be considered a depreciable asset for capital gains calculation, even though you did not show separate depre....

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....ciation in your income tax returns filed under section 44AD.<br> Discussion Forum - Knowledge Sharing ....