Short term capital gain
This query is : Resolved
vishal garg
(Querist)
20 December 2013
i bought a land at Rs. 6,00,000 (6 Lakh), on 10 april 2011 that i sold at Rs.12,00,000 (12 Lakh) on 10 November 2013
Now i invest Rs 10,00,000 for the purchased of new land and i do the registry in the name of two person (me and mu sister) so tell me the capital gain is liable on me or not.
or please tell me how i do the settlement with my sister
please tell me in which section i will take the exemption
Now i invest Rs 10,00,000 for the purchased of new land and i do the registry in the name of two person (me and mu sister) so tell me the capital gain is liable on me or not.
or please tell me how i do the settlement with my sister
please tell me in which section i will take the exemption
20 December 2013
Since you held the land for less than three years from the date of purchase there is a short term capital gain to the extent of Rs.600000. The benefit of re-investment in house property/land is not available to you.
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