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Income tax

This query is : Resolved 
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(Querist)
23 November 2015 The Assessee has purchased housing plot for Rs.4,39,590/-on 10/03/2012. This Property was sold for Rs.11,00,000/- on 06/12/2013
The Short term capital gain was Rs.6,60,410/-
The assessee has purchased housing plot on 13/09/2013 Rs.10,00,000/-
Whether Short Term Capital Gain is eligible for deduction u/s.54
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
23 November 2015 Section 54 exemption is available only in respect of a long term capital gain.
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S.Ishwarya

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S.Ishwarya (Querist)
24 November 2015 Thanks for removing my doubt.
This explanation you gave cleared my doubt.
Thank you Sir
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