Capital loss
This query is : Resolved
Anuj Verma
(Querist)
17 October 2015
R/all,
I purchased agriculture land in Aug 2014 for Rs. 7,00,000.00 and expenses incurred 30,000 for travelling, fees to advocate and commissions etc.
due to urgent need of money I sold the same property for Rs. 7,25,000.00 in Jan 2015
how to show the same in my income tax return. I not have any taxable income in Acc. year 2014-15.
please suggest.
regard
Amol S Joglekar
(Expert)
17 October 2015
Show it under short term capital gain. (As pointed out by you, it is a case of short term capital loss)
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