Short term capital gain tax on property purchase
This query is : Open
10 March 2016
Sir/Madam,
Please suggest me for the Capital Gain arising from following transaction :-
Mr. Ganesh bought a property (Flat) for Rs. 11,00,000 (Including registration) on Jan-2014. He has sold this property for Rs. 16,00,000 on Mar-2016 (less than three years) and there arise a Short Term Capital Gain of Rs. 5,00,000.
Query:- 1) Is there any option to save the tax on this value received (Rs. 16 Lakh) like reinvesting the same value for purchase of another Capital Asset.
2) He is planning to buy NA Land worth Rs. 9,00,000 from the sale proceeds, will it help him in tax benefit.
Regards,
Please suggest me for the Capital Gain arising from following transaction :-
Mr. Ganesh bought a property (Flat) for Rs. 11,00,000 (Including registration) on Jan-2014. He has sold this property for Rs. 16,00,000 on Mar-2016 (less than three years) and there arise a Short Term Capital Gain of Rs. 5,00,000.
Query:- 1) Is there any option to save the tax on this value received (Rs. 16 Lakh) like reinvesting the same value for purchase of another Capital Asset.
2) He is planning to buy NA Land worth Rs. 9,00,000 from the sale proceeds, will it help him in tax benefit.
Regards,
10 March 2016
http://www.charteredclub.com/section-54/
check this only for long term capital assets transferred u can get n not for short term assets
check this only for long term capital assets transferred u can get n not for short term assets
10 March 2016
Sir, my query is for STCG and not for LTCG.
10 March 2016
Thats wat i told u ...its available only for ltcg and not for stcg
10 March 2016
ok sir.....is there any option to save the tax in the case of STCG if we re-invest the sale proceeds or part of sale proceeds in any other Capital Assets ?????
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