Tds liability

This query is : Resolved

PRAVIN PATEL (Querist)
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24 February 2013 I have sold my home within a period of one and half year. I will revert 80c benefit of home loan principal i have availed. Just I want to know that can I get one year period to invest the same in another house property?

Also want to know that what tax liability will be on profit of 700000.00 if I am not investing the same in another house property?

My other income is 300000.00 and 700000.00 profit on short term capital gain.

Please guide.

@VaibhavJ

@VaibhavJ (Expert)
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24 February 2013 Hi,

Yes you do get one year period to invest in house property.

Your total taxable income is Rs. 10 L, you will get 2L std deduction & balance 8L is taxable as per standard rate.

So tax payable is Rs. 1,33,900/-

Thanks!!