in course of retirement from partnership of a real estate firm , the retiring partner is given an under construction residential property in exchange of his capital/any other claim in the firm. the person complete the property and sale it. it generates short term capital gain from the sale of residential property.
what is income tax applicable to it and how the tax liability be minimised. pl give your view
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Short term gain on sale of residential property
Replies (1)
Yes claim deduction under ch.vi A
and normal slab tax rate applicable
and normal slab tax rate applicable
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