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.
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.
03 June 2014
for selling and repurchasing in case of long term asset then deduction available but for that need amount also.
Nikhil Kaushik
(Expert)
03 June 2014
in both cases short term capital gains will apply from sale of the apartments.
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