Taxability of short term capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 May 2016 Hello,

I had sold an house and invested the consideration for purchasing the new flat. purchase cost old house 7.00 Lacs in 2004. and sale in the year of may 2011@25 Lacs and purchase New flat @ 17 Lacs in the same F.Y.

Then again sold the flat in F.y. 012-13 @ 27 lacs and purchase of new flat In the year 2013-14 @ Rs. 18.00 Lacs.

First house sold is longterm capital gain and the same is exempted but for the taxablitiy of second flat sold and on purchase of new flat in the next f.y.

please guide me with the taxability..

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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26 May 2016 There is no avenue whereby an exemption from STCG can be availed, the entire STCG shall be taxable as per the applicable tax slab rate.

Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615

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Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2016 Thank you
query resolved.