{"id":39907,"date":"2024-03-14T07:01:05","date_gmt":"2024-03-14T01:31:05","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=39907"},"modified":"2024-03-14T07:01:05","modified_gmt":"2024-03-14T01:31:05","slug":"return-form-capital-gains-sale-of-depreciable-assets","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/return-form-capital-gains-sale-of-depreciable-assets\/","title":{"rendered":"Return form capital gains \u2013 Sale of depreciable assets ."},"content":{"rendered":"<p>Sir,\u00a0 my assessee has sold a depreciable asset which was held for more than 3 years, the resultant gain has to be assessed as LTCG as held in Smita Conducters \u00a0Ltd\u00a0\u00a0 <strong>v. Dy. CIT (2015) 152 ITD 417 (Mum.)(Trib.) <\/strong>and other judgements. However, it appears that the Form prescribed for filing the Income Tax Return does not permit the gain to be offered as a LTCG. If the gain is not shown as STCG, the Form will not validate and the return cannot be filed. \u00a0\u00a0What is the remedy ? How to fil the return\u00a0 form ?<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[1129],"qa_category":[23],"qa_tag":[1194],"class_list":["post-39907","qa","type-qa","status-publish","hentry","qa_expert-mr-h-n-motiwalla","qa_category-income-tax","qa_tag-return-form-capital-gains-sale-of-depreciable-assets"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/39907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=39907"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=39907"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=39907"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=39907"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=39907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}