Query on Long Term Capital Gains

POSTED BY Advait ON July 26, 2013 9:31 am COMMENTS (3)

Dear friends,

I sold my shares and mutual funds in December 2012 and purchased a flat(In Dec-2012) with this redeemed amount. Is there any way I could take the benefit of LTCG and claim during my tax returns?

Thanka in advance!!

 

3 replies on this article “Query on Long Term Capital Gains”

  1. Advait says:
    July 27, 2013 at 10:47 pm

    Thanks for your responses!!

    I started investment in equity and MF with long term perspective. Due to urgencies of buying a flat I had to sell them. As you said this act already happened.
    I was thinking that if I hold equity and MF for more than a year, I need not pay any tax. Recently some one told me I need to pay LTCG. So I am confused.

    Reply
  2. Ashal Jauhari says:
    July 27, 2013 at 10:41 am

    Dear Advait, had you contacted before selling, we can arrange something but now as the water has flown down the river, you can not do anything. 🙂

    By the way, what were you thinking to do?

    Thanks

    Ashal

    Reply
  3. Biswa Singh says:
    July 26, 2013 at 4:54 pm

    If you were holding your shares and mutual funds for more than one year then you dont have to pay LTCG tax. So you dont pay any tax then what kind of beinfit you will get.

    Reply

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