Stt capital gain u/s 54

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mukesh patidar (Querist)
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18 October 2013 mr.a is sold a flat and get STT Capital gain RS.18 lac and mr.a f.y.2008 onward construed a residential house and complete f.y.2011,but Plot Name his wife and house loan Given by bank his wife,( new house legally is mr.a wife name)

than mr.a u/s 54 claim exemption against construed house.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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19 October 2013 No exemption is available to short term capital gain.

However, losses, if an, can be set off against such short term capital gains.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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19 October 2013 Agree with Expert,
Short Term capital Gain cannot be claimed exemption in any section..
Have to pay Short term capital gain tax @ the slab rate in your case...

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mukesh patidar

mukesh patidar (Querist)
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19 October 2013 respected sir,

thanks our view.