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DEAR EXPERTS/FRIENDS
I JUST WANTED TO KNOW THAT IF I HV SHORT TERM CAPITAL GAIN OF LAND AMOUNTING TO RS 400000. NOW IF I WISH TO SAVE ME FROM TAX BURDEN THAN KINDLY GIVE ME ANY PRACTICAL ANS WITHOUT SPENDING MUCH.
THANKS IN ADVANCE |
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its a short term capital gain and income tax cannot be saved on it.
Whole gain amount will be added to your taxable income and will be taxed as per your slab rates.
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if have then show some improvement over it |
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Help! I am unable to install ICAI- Tax Suite Software on one of my friend's computer. Is any system requirement needed to install? Please share. |
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If you can arrange an income tax assesse who is just having a pan card and not filing income tax return, than you can show some property dealing commission(Like 1%or 2%, not more than that), u can pay him by cheque, take back cash. In this way he will white money income and you can claim this as an expenditure on transfer. That might help to reduce you tax burder a bit. |
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