20 September 2012
I had sold non agricultural property in one year after its purchase. What are the provisions and how i can save my maximum tax? In which account should i deposit the sale proceeds? Should i deposit entire sale proceeds or only capital gain? If it is compulsory to open a deposit account then for how long should i keep that deposit and what is the tenure for which i should keep my deposit?
20 September 2012
On sell of such property short term capital gain arises which is taxable at normal tax rate. such capital gain will be included in your gross total income and normal slab rate calculation will be done.
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