Capital Gains Tax Query

Share This Thread
  1. priyanka.parkar7

    priyanka.parkar7 New Member

    In case of sale of property which is acquired in 2004 for 5 lacs with borrowed fund, sold in 2014 for 25 lacs & now consideration recd from sale of this property Rs. 22 lacs is used for purchase of another property then what is the tax treatment in this case?
  2. rudrabose

    rudrabose Active Member

    As property has been sold before 3 years, it would be regarded as Short Term Capital Gains.

    Tax would be levied as per Income Tax Slab Rates irrespective of whether the amount is invested in another property or not.
Draft saved Draft deleted
Similar Threads Forum Date
Cost of Acquisition for Capital Gains Income Tax Yesterday at 12:18 PM
Long term capital gains on sale of property Income Tax Aug 27, 2017
Long term capital gains on equity shares Income Tax Aug 17, 2017
Capital gains on shares (RSU and ESPP) exercised at NASDAQ? Income Tax Jul 25, 2017
Income Tax on Interest on 54EC Capital Gains bonds Income Tax Jul 22, 2017