Short term capital gain on residential house property
This query is : Resolved
ABHINAW TIWARY
(Querist)
17 July 2012
An assessee sold a residential house property and short term capital gain arisen. If he constructed another one in the same year, will there be any exemption avilable to him or whole of the STCG will be taxed?? (since section 54 exemption is for LTCG only).
Guest
Guest
(Expert)
17 July 2012
sorry.... no exemption will be allowed
Dhirajlal Rambhia
(Expert)
08 October 2021
Short term capital gain is taxed as per slab rate, without any exemption under the IT act.
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