25 October 2009
my freind has bought flat before 24 month now he has sold after taking profit of Rs. 200000 guid me that treatment of capital gain regarding gain of Rs. 200000 how it is treated in retun file whether it is short term gain or long term gain kindly guid me how much capital gains he will have to paid if not why
28 October 2009
As the flat is sold within 3 years' of purchase, the gain will be treated as short term capital gain. Short Term Capital Gains Tax will be @30%
CAclubindia
