18 January 2014
I am planning to sell a flat purchased 2 year back,just want to know how is the capital gain tax will be calculated and how can i save the taxes?
18 January 2014
The difference between sale price and the cost (purchase price + stamp duty) would be treated as Short Term Capital Gain. The gain is to be included in the income and normal rate of income tax would be applicable. No exemption is available if the flat is sold before holding it for 36 months.
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