Short term capital gain
This query is : Resolved
Sreelakshmi
(Querist)
14 March 2014
hi friends,
when a land has been sold and the said proceeds has been invested for purchase of another land, then in such a case how can an assessee claim exemption ?
section 54F allows for purchase of only residential house property.
The land is sold within 3yrs from purchase being a short term capital gain transaction.
please help in solving this query.
when a land has been sold and the said proceeds has been invested for purchase of another land, then in such a case how can an assessee claim exemption ?
section 54F allows for purchase of only residential house property.
The land is sold within 3yrs from purchase being a short term capital gain transaction.
please help in solving this query.
14 March 2014
Exemption is available only for LONG terma capital gain.
Since you have short term capital gain exemption is NOT available.
Since you have short term capital gain exemption is NOT available.
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