How to save money under capital gain

This query is : Resolved

DATTATRAY (Querist)
Follow

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.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

16 January 2016 THIS CASE IS OF SHORT TERM CAPITAL GAINS.
.
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.
.
EXEMPTION AGAINST LONG TERM CAPITAL GAINS ONLY IS AVAILABLE BY INVESTMENT IN THE BONDS OF NHAI & REC U/S 54EC.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

16 January 2016 you can buy a new shop within the same financial year

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

siddhesh satardekar

ARUP BHATTACHARYA

venkatesh c

KANHA ASSOCIATES

Raj Jaggi

Subscribe Now

How to save money under capital gain

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Manager- Finance and Compliance

Accountant

Senior Executive

GST CONSULTANCY

CA Final