Short term capital gain
This query is : Resolved
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- NRI INSURANCE ADVISOR
- Difff in ais receipts and gst turnover
- ITR-Capital Gain
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- LIABILITY ADJUSTMENT
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
