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CAPITAL GAIN
by amit mishra on Sep 29, 2008 03:10 PM

DEAR SIR

1. I PURCHASE A RESIDENTIAL FLAT FOR RS.16,00,000 ON JANUARY 2008 AND THEN I SALE FOR RS. 25,00,000 ON MARCH 2008.

2. IN MAY 2008 I PURCHASE ANOTHER RESIDENTIAL FLAT FOR RS. 45,00,000.

3. CAN I GET EXEMPTION FROM CAPITAL GAIN OR NOT.

4. IS IT SHORT TERM OR LONG TERM GAIN ?

THANKS

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