How to save capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 December 2015
Sir,
I purchased a plot in 31 Aug 2014 amount 297500 and sold January 2016 amount 595000 ( registree yet done). if i earn a profit on sale and reinvest it immediately in purchase of a Plot. Will I have to pay income tax on profit of sale of plot. Please give sound advice on taxation laws in this case.
I purchased a plot in 31 Aug 2014 amount 297500 and sold January 2016 amount 595000 ( registree yet done). if i earn a profit on sale and reinvest it immediately in purchase of a Plot. Will I have to pay income tax on profit of sale of plot. Please give sound advice on taxation laws in this case.
CA CS Jainam Shah
(Expert)
07 December 2015
You will have to pay income tax as per slab rates. As you are not eligible to any income tax exemption.
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