LCI Updates: This regulation stipulates that depreciation of tangible assets for the purchase, establishment, addition, repair, or alteration of tangible assets, except land with the status of freehold title, right to build, right to cultivate, right to use which are owned and used to obtain, collect, and maintain income that has a useful life of more than 1 (one) year shall be carried out in equal parts over the useful life determined for the asset. https://lnkd.in/gr9HggxQ #investment #legalcentric
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Case Digest: Capital gain on Property (Part -3) Read More: https://lnkd.in/gTVx5qRN #casedigest #capitalgain #property #taxscan #taxnews
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Case Digest: Capital gain on Property (Part 1) Read More: https://lnkd.in/gkb5njjn #casedigest #capitalgain #property #taxscan #taxnews
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Head of Finance at Mobik Energy, A Chartered Tax Practitioner and a Chartered Accountant
Daily Tax Summary Asset dealing between entities and members Where an asset is realised by way of transfer of ownership of that asset between an entity and one of its members, the transferor is considered to have received, in respect of the asset realised, an amount equal to the market value of the asset immediately before the realisation and the transferee is considered to have incurred an expenditure equal to the market value.
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Case Digest: Capital gain on Property (Part -2) Read More: https://lnkd.in/gXBUjRSz #casedigest #capitalgain #property #taxscan #taxnews
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Within this 180-day window, investors face the challenge of identifying and closing on a suitable replacement property. This period, often referred to as the exchange period, requires strategic planning and prompt action. A delayed decision can result in missed opportunities and potential tax consequences. Learn more by visiting our website: www.1031solutionsgroup.com #DeferTaxes #1031Solutions #NoHeadacheOfPropertyManagement #RealEstateInvestor #1031 #1031Investing
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