Hi,
Client got Short Term Capital Gain (STCG) Rs 10 lacs by selling land in city. Now the tax is 3 lakhs as its STCG without Indexation.
For getting excemption we have only 4 sections 54B, D, G and GA. These all are realted with Agricultural land or palnt and machinary in unit. My client has urban land which he sold.
Can you please suggest any way to adjsut tax. Is section 54 of purchasing new residential house can helpful here? its STCG and I think Sec 54 not apply on STCG. Please help urgently.
CAclubindia
