1) I sell one residential(long term) and buy a new residential house and gain exemption u/s 54. Now I sell the new house after 2 years. Will the exemption obtained earlier be added to my income in the current year or something like that?
2) Can Short Term Capital Loss on shares be adjusted against Short Term Capital Gain on sale of residential property? Asking because the former is taxed at 15%(if STT paid) but the lat\ter is taxed at slab rates.
3) Can Short Term Capital Gain on sale of residential property be set-off against any other income like Loss on House Property, Business/Profession Loss etc. of the same year? Obviously some special kinds are not allowed like Speculative Business, Business of Race horses, Specified Businesses etc.
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