if there is short term capital gain on a plot of land...
purchase price is 15 lacs
sale price is 42 lacs ...sale completed with in 3 years of purchase.. what is the ways for tax planning so as to save maximum tax on it....
thanx...
R. vishwanathan (SENIOR ACCOUNTANT) (241 Points)
30 December 2012if there is short term capital gain on a plot of land...
purchase price is 15 lacs
sale price is 42 lacs ...sale completed with in 3 years of purchase.. what is the ways for tax planning so as to save maximum tax on it....
thanx...
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 31 December 2012
no tax planning can be done in case of STCG. You will be requried to pay STCG tax on it.