Hi,
Say house property is sold within three years of acquisition and hence short term capital gain arises. Can the capital gains be invested in any manner so that short term capital gain tax need not be paid? Since sec 54 is availabe only on long term residential property we cannot use the above section in the given case.
Thanks,
Namrata
No provision is there for STCG arising on sale of house. the entire STCG would be taxable @ 15%.
| Originally posted by : Giridhar S Karandikar | ||
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No provision is there for STCG arising on sale of house. the entire STCG would be taxable @ 15%. |
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It'll be taxed at slab rates and not 15%!!
dear entire capital gain will be taxable as per your slab rate.. there is no provision of exemption under short term gain...
@ Giridhar - such 15% tax is appicable where there is short term capital gain on sale of shares...
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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