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Capita gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 November 2012 IF A PERSON SELLS HIS FLAT ACQUIRED ONE YEAR BEFORE IN RS 10 LACS THROUGH POWER OF ATTORNEY FOR RS 12 LACS THEN HOW AND WHEN WILL THE CAPITAL GAIN WORKED OUT.
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shivaji prasad bhimavarapu

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shivaji prasad bhimavarapu (Expert)
03 November 2012 This will be short term capital gain. Taxed at Normal rates.No exemptions for investment of the sale proceeds U/s 54. Togeter with other sources of Income, this short term capital gain will constitute total income of the assessee and tax as per the rates and slabs to be applied.
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