Stt capital gain u/s 54
This query is : Resolved
mukesh patidar
(Querist)
18 October 2013
mr.a is sold a flat and get STT Capital gain RS.18 lac and mr.a f.y.2008 onward construed a residential house and complete f.y.2011,but Plot Name his wife and house loan Given by bank his wife,( new house legally is mr.a wife name)
than mr.a u/s 54 claim exemption against construed house.
than mr.a u/s 54 claim exemption against construed house.
Nikhil Kaushik
(Expert)
19 October 2013
No exemption is available to short term capital gain.
However, losses, if an, can be set off against such short term capital gains.
However, losses, if an, can be set off against such short term capital gains.
CA Pallav Singhania
(Expert)
19 October 2013
Agree with Expert,
Short Term capital Gain cannot be claimed exemption in any section..
Have to pay Short term capital gain tax @ the slab rate in your case...
Short Term capital Gain cannot be claimed exemption in any section..
Have to pay Short term capital gain tax @ the slab rate in your case...
mukesh patidar
(Querist)
19 October 2013
respected sir,
thanks our view.
thanks our view.
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