03 November 2012
IF A PERSON SELLS HIS FLAT ACQUIRED ONE YEAR BEFORE IN RS 10 LACS THROUGH POWER OF ATTORNEY FOR RS 12 LACS THEN HOW AND WHEN WILL THE CAPITAL GAIN WORKED OUT.
03 November 2012
This will be short term capital gain. Taxed at Normal rates.No exemptions for investment of the sale proceeds U/s 54. Togeter with other sources of Income, this short term capital gain will constitute total income of the assessee and tax as per the rates and slabs to be applied.
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