S t c gain on sale of plot
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 December 2011
s.t.c.gain arised on sale of residential plot. how can we save tax
22 December 2011
The gain arise from the sale of plot is taxable, Section 54 and 54F could have been availed if it was LTCG, in the case of individual and HUF.
22 December 2011
The short term gain will be treated as any other hence there is no specific method for saving the tax.
Guest
Guest
(Expert)
22 December 2011
Make saving under section 80C since STCG is taxable at normal slab rate.
24 December 2011
Section 80c deduction is general deduction which is available to assesse to its GTI, diretlly no option available. Advised to pay Capital gain tax.
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