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How to save money under capital gain

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(Querist)
16 January 2016 I PURCHASED A SHOP FOR RS 16,00,000/- AND SOLD IT FOR RS 20,00,000/- .THE TIME DIFFERENCE BETWEEN MY PURCHASE AND SALE IS LESS THAN ONE YEAR. HOW CAN I REDUCE MY TAXABLE INCOME ( FOR EXAMPLE : FROM INVESTING IN WHICH GOVT BONDS WOULD BE BENEFICIAL) . OR PLEASE GUIDE ME WITH OTHER MEASURES IF ANY.THANK YOU.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
16 January 2016 THIS CASE IS OF SHORT TERM CAPITAL GAINS.
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IN CASE OF SHORT TERM CAPITAL GAINS YOU CAN SAVE TAX UPTO A CERTAIN EXTENT BY UTILISING THE LIMITS PRESCRIBED UNDER CHAPTER VIA- DEDUCTIONS -LIKE LIP, PPF, MEDI-CLAIM, DONATION ETC.
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EXEMPTION AGAINST LONG TERM CAPITAL GAINS ONLY IS AVAILABLE BY INVESTMENT IN THE BONDS OF NHAI & REC U/S 54EC.
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Amol S Joglekar

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Amol S Joglekar (Expert)
16 January 2016 you can buy a new shop within the same financial year
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