Kunal (Manager) 12 May 2010
I had purchased a house in my name in Sept 07 and sold off the same in Feb '10 , with some appreciation (hence had short term capital gains) . I have now purchased (April'10) a new bigger house , jointly with my wife , the cost of which is greater than the sale price of my earlier house .
Do i have to pay short term capital gains in this year's return , from the sale of my previous house? Is there any way Tax can be saved ?
Which form do i have to fill up for my ITR ?
Neither me nor my wife have any other property .