19 March 2016
My client has Property which he purchased Two Years Back and wants to sale his property and purchase new one. As per Section 54 we can claim Exemption on Capital Asset only on Long Term Asset. Kindly Guide me about Exemption on Short Term Cap. Gain on Such Asset.
19 March 2016
Dear There is no benefit available for Short-Term Capital Gains.It will be included in the total income and charged to tax as per normal slab rates. Moreover, there is also no indexation benefit available for the short term capital asset.
CAclubindia
