Agricultural land sold to buy property in dubai

CAPITAL GAIN ON SALE OF AGRICULTURAL PROPERTY IS EXEMPT FROM TAX PROVIDED IT SHOULD NOT COME UNDER AREAS LISTED BY THE IT DEPARTMENT

Agricultural Land is exempt from Tax subjected to conditions,

Land qualifies to be agricultural land if it is not situated in any area which is comprised within the jurisdiction of a municipality (whether known as a municipality, municipal corporation, notified area committee, town area committee, town committee or by any other name) or a cantonment board..

And which does not have a population of 10,000 or more according to the last preceding census which has been published before the 1st day of the previous year in which the sale of land takes place, and it is not situated less than eight kilo meters from the local limits of any municipality or a cantonment board.

I also want to know can a property be brought in dubai out of the sale proceeds as the law is silent on this matter as well. What section is applicable?

Yes, you can purchase property in Dubai from the sale proceeds...

Any particular section that i need to refer to so that i can revise the law?

Thanks for the prompt reply.

Sale of Agricultural land is exempt from Capital gain Tax,

You don't need to refer any section for investing,

However, Claiming sections is 54F in case of investing in Residential Property...

you can invest amount of capital gain only in agriculture land not residential property.....please check ...