Capital Gains Tax Query

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  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.
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