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S t c gain on sale of plot

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 December 2011 s.t.c.gain arised on sale of residential plot. how can we save tax
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CA Manish Sukhani

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CA Manish Sukhani (Expert)
22 December 2011 The gain arise from the sale of plot is taxable, Section 54 and 54F could have been availed if it was LTCG, in the case of individual and HUF.
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anurag

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anurag (Expert)
22 December 2011 The short term gain will be treated as any other hence there is no specific method for saving the tax.
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Guest

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Guest (Expert)
22 December 2011 Make saving under section 80C since STCG is taxable at normal slab rate.
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CA Manish Sukhani

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CA Manish Sukhani (Expert)
24 December 2011 Section 80c deduction is general deduction which is available to assesse to its GTI, diretlly no option available. Advised to pay Capital gain tax.
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