One of my client had invested Rs.3.5Lacs in the Under construction building for buying of flat in the building around 5-6 months back. Now the Builder, due to some problems, is not selling the building and returned Rs.6 Lacs resulting into capital gain of around Rs.2.5 Lacs. What is the options available to the persong for reduction of Tax Liability. Please guide me....
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Please Guide me on Short Term Capital Gain
Replies (2)
no capital gain, its compensation money, and would be added to taxable income.
this compensation is in capital nature. so i dont think it would be chargable to tax.
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