Pl clarify...

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 June 2014 I have got 2 apartments in a building in May 2014 as a consideration of development of my open plot. I would like to sell one of them and buy a plot elsewhere shortly for further development of a residential complex through a builder. There again, I am expecting 2 apartments as my share which I want to sell immediately after taking over. In these transactions, what are the tax implications(capitalgains/ income tax)?
Kindly clarify the tax position starting from selling hyderabad apartment-buying a plot elsewhere -developing it and selling the apartments immediately. Also pl advise the way to have minimum taxation.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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03 June 2014 for selling and repurchasing in case of long term asset then deduction available but for that need amount also.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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03 June 2014 in both cases short term capital gains will apply from sale of the apartments.

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