Sir,
I am a salaried person in 20% tax slab.My wife does tuition work and earns approximately 20000 per month and we both file ITR as per our income regularly. I bought a plot in Dec 2015 for rs 670000 in the name of my wife which I have sold in Oct 2016 for rs 1050000. How much tax my wife has to pay for this.
Please suggest.
1 Answers
Hi,
Kindly note that Short Term Capital Gains have to be included in her taxable income and will be taxed at applicable income tax slab rates.
Kindly read:
http://www.relakhs.com/how-to-save-capital-gains-tax-on-sale-of-land-house-property/
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