Short term capital gain

Dear Sunny

Since the property is being sold within 3 years, it will be considered as STCG. Capital Gains will be Rs. 2,00,000/- (Rs. 11,00,000- Rs. 9,00,000), this will be added to the income and be taxable as per the slab rates.

Since it is short term no exemption can be claimed, the only way is if at all there is any b/fd capital loss then it can be set off against this gain.

Other Suggesstions  welcome.

Thanks

Ravi Dasija

Thank You Very Much.

Dear Sir

Thank You Very Much for reply,

Can he invest this 11 lakh in anywhere or there are some restrictions?

Regards

Sunny Tayal

If you want to save the capital gain then it is advisable to sell the property after one year resulting in long term capital gains. In that case the assessee can invest the amount as specifed u/s 54EC or 54 and can claim exemption for the amont equal to the to the amount invested.

Originally posted by : Rahul Suneja
	If you want to save the capital gain then it is advisable to sell the property after one year resulting in long term capital gains. In that case the assessee can invest the amount as specifed u/s 54EC or 54 and can claim exemption for the amont equal to the to the amount invested.

a wrong answer. now the assesse is in 2013, how can it b after one year.

Mr. Ravi has given a perfect answer to your query on short term capital gain taxability

Originally posted by : Sunny Tayal
	Dear Sir Thank You Very Much for reply, Can he invest this 11 lakh in anywhere or there are some restrictions? Regards Sunny Tayal

Dear Sunny

There is no restrictions on using the funds received but however no tax benefit will be available to the assessee.

Warm Regards

Ravi Dasija
 

Thank you very much.

Originally posted by : CA Ashish Gupta
	Originally posted by : Rahul Suneja If you want to save the capital gain then it is advisable to sell the property after one year resulting in long term capital gains. In that case the assessee can invest the amount as specifed u/s 54EC or 54 and can claim exemption for the amont equal to the to the amount invested. a wrong answer. now the assesse is in 2013, how can it b after one year.

Dear Ashish Gupta,

Please read the query carefully the Assessee has "PLANNED" to sell the property in April 2013, he has not actually sold the property yet.

My perspective is relating to future.....