mohinder (proprieter) 28 February 2011
I have been alloted a plot by HUDA in Panchkula (Haryana) on 24-04-2004 through draw. which is cost Rs 573000/- . I pay all the annual installments till April 2009. In october 2009 i was sold it in Rs 1571000/-.
My queries are
1 it is my short term capital gain or long term capital gain ?
2 if it is Short term capital gain how i can save my tax.
regards.
adv. rajeev ( rajoo ) (practicing advocate) 28 February 2011
It is long term capital gain. To save the tax you will have to invest in the capitl gain schemes within 3 years.
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