Tax on short time investment

Am i liable to pay tax on short term capital gain for the property purchased in 2010 and intending to sell it in couple of month. I would be against buying another property from that money. Please suggest.

Thanks, Bijoy Pillai

asked Apr 07 '11 at 12:53 by Bijoy 1●1●1

One Answer:

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There is no exemption available for short term capital gains.
Whole gain amount will have to be added to you income and has to be taxed as per your slab rate.

answered Apr 11 '11 at 01:24 by Pankaj Batra 5.2k●3●20

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income-tax ×778
capital-gains ×342
residential-property ×80
short-term-gain ×21

Asked: Apr 07 '11 at 12:53

Seen: 1,547 times

Last updated: Apr 11 '11 at 01:25

Tax on short time investment

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