Topic: regarding Capital gain invetment

hello

i had purchased one plot for 5000 per sq feet. i sold it at double the rate.the profit which i m getting is taxable or not. how to show invetment to get rid of tax deduction.plz reply as sooon as possible.

Regards
Deepak

Hi..........

If any Capital Asset(Capital Asset means all moveable or immovable property) is sold or transferred, the profits arising out of such sale are taxable as capital gains in the year in which the transfer takes place.The profit which you got is taxable. To avoid tax you can buy another property from that profit amount.

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