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:

oldest newest most voted

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

link

Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

*italic* or __italic__
**bold** or __bold__
link:[text](http://url.com/ "title")
image?![alt text](/path/img.jpg "title")
numbered list: 1. Foo 2. Bar
to add a line break simply add two spaces to where you would like the new line to be.
basic HTML tags are also supported

learn more about Markdown

Tags:

income-tax ×778
capital-gains ×341
residential-property ×80
short-term-gain ×21

Asked: Apr 07 '11 at 12:53

Seen: 1,177 times

Last updated: Apr 11 '11 at 01:25

Tax on short time investment

Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Follow this question

Related questions