Rajendra Singh (Sr Mgr) 15 November 2013
Can anyone clarify my doubt regarding capital gain from Property.
I bought a flat in year 2012 and planning to sell it this year i.e 2013
I know that the gain/profit qualifies for short term capital gain. Also, the gain qualifies for Short Term Capital Gain.
But I plan to re-invest the capital gain in purchasing a house.
Pls let me know whether the gain qualify for tax payment ?
R RAJAGOPALAN (ADVOCATE) 15 November 2013
Your Query: I bought a flat in year 2012 and planning to sell it this year i.e 2013
know that the gain/profit qualifies for short term capital gain. Also, the gain qualifies for Short Term Capital Gain.
But I plan to re-invest the capital gain in purchasing a house.
- whether the gain qualify for tax payment ?
PRANAV P ASHTIKAR (SELF EMPLOYED) 16 November 2013
No, Sec. 54 & 54EC deals only with Long Term Capital Gains.
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