X Ltd. has Building purchased on 15.3.2008 the Building was used in the company Depreciation has been charged at the rate of 10% p.a. for over the years. The written down value of the building is ₹ 33,125. The Building was sold for 1,50,0 choose the correct option
A. LTCG of ₹ 50,000
B. LTCG of ₹ 1,16,875
C. STCG of ₹ 1,16,875 if Building is the only asset in the block
D. No gains or losses on sale of business assets
Answer:C
X Ltd. has Building purchased on 15.3.2008 the Building was used in the company Depreciation has been charged at the rate of 10% p.a. for over the years. The written down value of the building is ₹ 33,125. The Building was sold for 1,50,0 choose the correct option
A. LTCG of ₹ 50,000 B. LTCG of ₹ 1,16,875 C. STCG of ₹ 1,16,875 if Building is the only asset in the block D. No gains or losses on sale of business assets