What is the short term capital gain on sale of property in India after budget 2008 ?

The short term capital gains tax on equity was hiked fro 10 % to 15 %. Is that 15 % applicale for sale of property also ? Or will it be treated as a part of the business income and taxed according to slabs ? Kindly clarify

The income from Short term capital gains on sale of property will be directly added to the income and will be taxed as per slab rates. No fixed rate of tax for this gains.

if selling and purchasing is yr business than it is a business income otherwise it is capital gain to be taxed at 15%. pls rate my answer

Tags

　　United States Taxes 　　United Kingdom Taxes 　　Spain Taxes 　　Singapore Taxes 　　Mexico Taxes 　　Ireland Taxes 　　India Taxes 　　Germany Taxes 　　Canada Taxes 　　Australia Taxes 　　Small Business

Related information

I summbit all document in january 2008 related to pan card but still i not get pan card ? why ?

There are many reasons for not receiving PAN card. It might have returned back to them as you were not in the address at the time of the card came to your house or you might not have filled the for...

I got my PAN number- ANGPR4108M, but the PAN card didn't reach me. How i can get the Pan card?

First know your PAN card status through their websites. Once the PAN is allotted, it will be dispatched to you in just 4 to 5 days time. May be the card has returned back for the reason you are n...

What is new tds rate for the year 2008-2009?

There is no change in TDS rates. Same rates apply for 2008-09 also. You can find the TDS chart in the below web site. ...

What will be my new pay scale according to 6th pay commission, my present scale of pay is 8000-275-13500?

The sixth pay commission has submitted its recommendations to the government with an average increment of 42%. But there is no guarantee the government will fully accept it. You can expect 25-30% ...

How much does 1$ equate to in indian rupees?

It differs on forex trading basis. As on 11th April, 2008 at 4.30am (IST), it is 1 US$= Rs.39.89 (INR) Around 5 years back, 1 US$ was Rs.49.00 ...

Pls tell me pancard office in chinchwad?

PAN card address change is not must. The address is nothing to do. No one verifies your address and the income tax department will not correspond with you to that address at all. Any way it is l...

How to become an income tax officer?

UPSC, the central recruitment agency of India publish advertisement in Employment News and leading daily news papers. The process involves a scrutiny examination and interview afterwards. You will ...

Should i file IT return for merely having PAN card?

You need not file a IT return for merely having a PAN card until your income exceeds the prscribed limits. But in case you are palnning to do something big, like owning a property or a forign tour,...