Short Term Capital Gain
This query is : Resolved
03 October 2008
Case : Individual want to sale out commercial shop purchased in last year means holding period less than year.
It will attract short term capital gain tax at Progressive rate applicable ?
Can't we reduce libility.?
It will attract short term capital gain tax at Progressive rate applicable ?
Can't we reduce libility.?
04 October 2008
You can adjust the gain by treating it as a depreciable asset and getting the gain adjusted in the block against another depreciable commercial property. You may refer to section 50.
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