Easy Office
LCI Learning

Income tax on capital gain

This query is : Resolved 
Profile Image

Profile Image

(Querist)
29 February 2012 My query is that if we have capital gain on sale of residential property but we did purchase a new property in one year so what will be the tax treatment and what penalty we will have to pay...
Profile Image

Mihir Doshi

Profile Image

Mihir Doshi (Expert)
29 February 2012 Clarify whether the Gain is Short term or Long term.

If its long term then property can be bought within 2 years of transfer of property or 1 year before the transfer of property.

There is no penalty if bought within time limit as given in IT Act

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links