LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

suryabhan (medical )     28 August 2016

I want to sale land

i want to sale a land which i bought 16 months before so my questions is,is this sale will be aplicable for tax and if yes how much it will be



Learning

 2 Replies

Kumar Doab (FIN)     28 August 2016

Check with your own IT lawyer.

Agastya   29 August 2016

Yeah. It's called short term gains tax. Applicable for sale within 3 years of purchase. So put same value on sale agreement as what you purchased. So no profit. Declare as no profit no loss in tax filings. Take remaining amount by cash.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register