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Tds liability

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(Querist)
24 February 2013 I have sold my home within a period of one and half year. I will revert 80c benefit of home loan principal i have availed. Just I want to know that can I get one year period to invest the same in another house property?

Also want to know that what tax liability will be on profit of 700000.00 if I am not investing the same in another house property?

My other income is 300000.00 and 700000.00 profit on short term capital gain.

Please guide.
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@VaibhavJ

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@VaibhavJ (Expert)
24 February 2013 Hi,

Yes you do get one year period to invest in house property.

Your total taxable income is Rs. 10 L, you will get 2L std deduction & balance 8L is taxable as per standard rate.

So tax payable is Rs. 1,33,900/-


Thanks!!
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