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Short term capital gain

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(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.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
14 March 2014 Exemption is available only for LONG terma capital gain.

Since you have short term capital gain exemption is NOT available.
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