capital gain
This query is : Resolved
30 July 2010
in which head we calculate long term capital gain arises on transfer of house property as taken as deduction in 54f and that property has been transfer within 3 yr
30 July 2010
If the house property was transfered within 3 years from the date of acquisition, it is a short term capital gain.
30 July 2010
but how we will treat in computax and in which head it is taxable
31 July 2010
The capital gain exempted under section 54 F will be assessed in the head capital gains itself in the year in which the the new property is transferred. Ref section 54F(3) for details.
10 August 2010
capital gain exempted u/s 54 F will be reduced from cost of acquisition of new property and then after short term capital gain will be calculated.
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