Sale of part terace of flat

Tax queries 318 views 1 replies

Friends, Terrace Flat was purchased during October,2013.

Now, I want to sale part of that Terrace to my neighbour for Rs. 1 Lac.

What will be tax implications ?

Pl inform.

T & R

KP

Replies (1)
You would have Short term capital gain..sale price minus purchase price of the part of terrace which you are selling.


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