krishna (student) (40 Points)
30 March 2015Hi this is murali. I have a Querry on exemtions available to the short term capital gains on tranfer of Residential house property. Please any one help out to solve the issue. I want the list of exemtions available on short term capital gain on transfer of residential house property.
Kumar Purohit
(Articled Assistant)
(653 Points)
Replied 30 March 2015
there is no exemption available in case of short term capital gains on transfer of Residential House Property.
However, Exemption under section 54 can be claimed in respect of capital gains arising on transfer of capital asset, being long-term residential house property.
Read more at: /forum/details.asp?mod_id=323981#.VRk1uPyUdMg
CA PAYAL GAJJAR
(Personal Practice)
(150 Points)
Replied 30 March 2015
I think exemption available for Short Term Capital Gain is
54B - on transfer of agriculatural land
54D - on transfer land or building forming part of industrial undertaking
54G - on transfer of plant & machinery, building ,land situated in urban area to other area
54GA - on transfere of plant & machinery, building ,land situated in urban area to SEZ
So, no exemption available in this case
dkmonline
(B.Com)
(27 Points)
Replied 30 March 2015
Now coming to the tax treatment for all those tax payers who are deriving long term capital gain on selling real estate assets...
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