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Stt capital gain u/s 54

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(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.
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Nikhil Kaushik

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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.
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CA Pallav Singhania

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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...
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mukesh patidar

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mukesh patidar (Querist)
19 October 2013 respected sir,

thanks our view.
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