26 May 2014
Anyone tell me the section for the below case
Consequences of new asset being transferred within a period of 3 years of purchase or construction
26 May 2014
If it is transferred within 3 years then it is taxable as Short term capital gains. I assume asset which you are referring to is not listed securities as notified under the provisions of SEBI Act.
26 May 2014
if you take exemption earlier for invest in this assets then you have to pay tax on previous exemption tax amount. and also STCG on current sold assets.
CAclubindia
