STCG on sell of land (Tax Planning)
This query is : Resolved
Ashish Mishra
(Querist)
20 March 2008
A land was purchased for Rs. 700000. After one and half year later he sold that land for Rs. 1200000 and there is a STCG on land. how can we save tax on that. help me?
CA Hemant T Dewani
(Expert)
20 March 2008
if your othe total income is less than the limit then basic exemption is available othewise stcg is your total business income it is treated as regular income but other deduction are not availble against stcg i.e.80c deduction are not available to you
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