Agriculture land situated near Ahmedabad city AUDA limit i.e.4 km away arialy. Will sale of it attact capital gain? How indexasation calculated? Pl guide?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 16 July 2017
Yes...... within specified limit.......... it is a capital asset....... as calculated like any other asset.... with an additional option for exemption u/s. 54B.
Karan Batra
(Creator: TheProTalks)
(2325 Points)
Replied 16 July 2017
Agree with Dhirajlal Sir, It's Urban Agriculture land so yes it is a capital asset and it's transfer will be just like another Capital asset. If you want the specific rules regarding this then revert back.
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