Income tax
This query is : Resolved
23 November 2015
The Assessee has purchased housing plot for Rs.4,39,590/-on 10/03/2012. This Property was sold for Rs.11,00,000/- on 06/12/2013
The Short term capital gain was Rs.6,60,410/-
The assessee has purchased housing plot on 13/09/2013 Rs.10,00,000/-
Whether Short Term Capital Gain is eligible for deduction u/s.54
The Short term capital gain was Rs.6,60,410/-
The assessee has purchased housing plot on 13/09/2013 Rs.10,00,000/-
Whether Short Term Capital Gain is eligible for deduction u/s.54
23 November 2015
Section 54 exemption is available only in respect of a long term capital gain.
24 November 2015
Thanks for removing my doubt.
This explanation you gave cleared my doubt.
Thank you Sir
This explanation you gave cleared my doubt.
Thank you Sir
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