Dear members,
Is there any way out for availing tax exemption for short term capital gains arising from sale of residential house?
Capital gain exemption
Anubhav Saha (n a) (33 Points)
11 May 2012
Anubhav Saha (n a) (33 Points)
11 May 2012
Dear members,
Is there any way out for availing tax exemption for short term capital gains arising from sale of residential house?
Devendra
(Chartered Accountant)
(4775 Points)
Replied 11 May 2012
No. But you can save tax by investing in LIC, Mediclaim, PPF and NSCs upto Rs. 1 Lakh.
Regards,
Devendra
Member
(Management)
(325 Points)
Replied 11 May 2012
Exemption under chapter IV E of the Income Tax Act is only for long term capital gains. Short term capital gains is just like any other income.
krishna
(Student)
(71 Points)
Replied 14 May 2012
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