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Tax Forum

 Are there any income tax considerations while transferring newly acquired property?
Chetan Parekh

You will be liable to pay short term capital gains (STCG)if the property is transferred/sold within 3 years from the date of purchase, provided you sell at a profit. Otherwise you would incur a loss and carry that in your books for offsetting against future STCG.

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Dinesh Paul  -  28 May, 2013
Thanks for the answer. Your answer helped me getting out of my similar problem.

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