Long term capital gain tax
This query is : Resolved
22 March 2014
sir, i have purchased property on 1.4.12 and
i have also sold other property on 1.10.13 which was purchased before 3 years now iwant to know whether the property amount is taxable or exempted under section 54 for transfer of house property before one year or after two year.
i have also sold other property on 1.10.13 which was purchased before 3 years now iwant to know whether the property amount is taxable or exempted under section 54 for transfer of house property before one year or after two year.
22 March 2014
It cannot be exempted u/s 54 as the date of property purchased exceeds falls before one year time limit.
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