Dear members,
Is there any way out for availing tax exemption for short term capital gains arising from sale of residential house?
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Capital gain exemption
Replies (3)
No. But you can save tax by investing in LIC, Mediclaim, PPF and NSCs upto Rs. 1 Lakh.
Regards,
Devendra
Exemption under chapter IV E of the Income Tax Act is only for long term capital gains. Short term capital gains is just like any other income.
SIR,
short term capital gain will be tax as per slab rate.
it will be the part of total income
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