Capital gain
This query is : Resolved
16 January 2013
A State Govt. employee purchased a piece of land on april 2011 of Rs. 11,50,000 and sold it in oct-2012 in Rs. 14,00,000, I want to know the tax implications on the said matter and how can the tax will be minimized??
Guest
Guest
(Expert)
16 January 2013
Capital gain of Rs. 2.5 lakhs. Assessee can avail exemption by making investments specified u/s 54 of IT Act, 1961.
Message likes :
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17 January 2013
Correct me if I m wrong,
As it is short term capital gain, sec 54 is not applicable.
As it is short term capital gain, sec 54 is not applicable.
10 October 2021
Yes, its STCG. No exemption available...
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