Short Term Capital Gain Tax on property

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  1. sachinsaregama

    sachinsaregama New Member

    I want to sell my old plot : Property on both Husband Wife Name.

    Both are Tax Payee.

    Year of purchase : 1999

    Cost of Purchase : 275000

    Current government valuation : Rs. 2800000

    We are already having our own two flats in different cities.

    My query is :

    1. If I transfer my plot to builder for development agreement, and hold its 50% area of property, is the tax is payable ?

    2. If I sell our my salable area, then can I invest the amount in one more house for getting short term tax exemption ?

    please reply.
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