25 April 2023
A bought land during Nov 21 for 57 lakhs and sold it for 100 lakhs in 2023, how much will be the capital gain, what exemptions are available, kindly clarify
25 April 2023
Short term capital gains of 43 lakhs less expenditures related to sell transactions, if any. You can deduct cost of improvement if any. Basic exemption (of Rs. 2.50 lakhs) with deductions under sec. 80C to 80U, whichever applicable, can be claimed against the STCG.
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