Please Help: Capital Gain
Posted Date : 11-Feb-2015 , 04:17:16 pm | Posted By: Umakant
Category :
Income Tax | Answers :
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Comments :
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Please provide the exemption allowed in case of short term capital gain arising on sale of short term capital assets (Land). |
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| Posted By : K George Philip |
13-Feb-2015, 03:20:42 |
| There is no specific exemption for short term capital gains. It is taxable at normal rates along with other incomes. But the basic exemption limit is available. |
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| Posted By : K George Philip |
13-Feb-2015, 03:20:17 |
| There is no specific exemption for short term capital gains. It is taxable at normal rates along with other incomes. But the basic exemption limit is available. |
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| Posted By : Alok Kushwaha |
13-Feb-2015, 11:52:59 |
| Gains arising from the transfer of a short-term capital asset are
treated as short-term capital gains and included in the total income of the taxpayer for taxation at the rates applicable to him. |
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| Posted By : Gitanjali |
12-Feb-2015, 11:09:38 |
| If the sold asset is an Agricultural land which has been used for the agricultural purposes by individual or by his parents for a min period of 2 yr then capital gain arised on the sale of such land can be exempted under Sec. 54B by purchasing another agriculatural land within a period of 2 yrs from the date of transfer of previous land.
Also short term capital gain can be set off against any income under the head "capital gain". |
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| Posted By : Shweta Grover |
11-Feb-2015, 09:01:58 |
| If d land is agricultural den u/s 54B
If it is nt agricultural land or if it is used for industrial purpose den u/s 54D
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