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CAPITAL GAIN ISSUE


SOME HAS GOT NET AMOUNT OF RS 21 LACS ON ACCOUNT OF SALE OF FLATS AS AGAINST WHICH NO EXPENSE CAN BE CLAIMED. SIMULTANEOUSLY OUT OF 21 LACS THERE ARE SEVEN PARTNERS EACH DRAWING A SHARE OF RS 3 LACS. Now the question arises whether each 3 lacs is shall be taxable or not ?


you need to work out the capital gain. Also check if indexation is available.

Check whether it is short term or long term capital gain


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