Capital gains
This query is : Resolved
Sadanand Shetty
(Querist)
03 September 2011
I have sold a flat which was purchased 2 years back.Can I save the short term capital gains by investing the proceeds in a new flat or invest the same in capital gain tax saving bonds.Please guide me.
03 September 2011
Reinvestment benefit, as cited, can't be availed for STCG by virtue of law.
CA Navin Jain
(Expert)
03 September 2011
THERE IS NO OPTION FOR SAVING OF SHORT TERM CAPITAL GAIN IN THE INCOME TAX ACT, THEREFORE YOU HAS TO PAY TAX,
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