Gud Morning CCI,
I have adoubt in STCG. One of my clint sale his residential house within 3 years of purchase. So, how can we avoid tax in that situation?
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 06 December 2012
Tax cant be avoided if teh property is sold within 3 years. STCf tax will be requried to be paid. No tax benefit on this can be claimed.
CA PRAMESH AGARWAL
(Profession)
(152 Points)
Replied 06 December 2012
Tax can be avoided by claiming exemption u/s 54, but you have to comply the requirements...
raja sekhar
(Accounts Officer)
(62 Points)
Replied 06 December 2012
PAY SHORT TERM CAPITAL GAINS ACCORDINGLY..
NO OTHER BENIFITS IN SPECIFIC
valji
(Accounts manager-MBA)
(2150 Points)
Replied 06 December 2012
you have to pay ,not any benefit for short term capital gain
Back in the Game
(a)
(1273 Points)
Replied 06 December 2012
Bro there is a way out ,i ve discovered ,no matter what the capital gain is ,it could be avoided....
i took lot of time to find it out,but then what are we contributing to society....We being professionals ,We should think of Tax planning...not avoidance...
This is one of the reasons our tax laws are becoming cumbersome...which is not easily understood by common man...
if we do avoid taxes ,i think we ve no right to Condemn corruption....
As a great man says "Be a man of Value,not Success".
if i ve hurt anyone ones perception ,i sincerely apologise....though my i had no intention to do same...
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