Need guidance

nitin (managing director) (28 Points)

25 May 2012  

Hi members i wanted to know something regarding short term capitol gain tax,i had filed itr of 5 lac for the fin year 2010-11,i had purchased a plot worth rs 16 lac in fin year 2011-12 now I am getting an offer of 32lac in fin yr 2012-13.whic means i had earned a gain of 16 lac. in a short term .itr for 11-12 is some where close to 8.5 lac. sir want to know how much will be the tax on tis gain