Agriculte land sale by plotting
This query is : Resolved
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furkan naviwala
(Querist)
02 February 2022
Hello friends..
I have query releated to section 45(2) .. If I have agriculture land and I sell it by individual Residential plots after converting to n.a
.. how would LTCG and business profit would be calculate and can we save it by investing in bonds
I have query releated to section 45(2) .. If I have agriculture land and I sell it by individual Residential plots after converting to n.a
.. how would LTCG and business profit would be calculate and can we save it by investing in bonds
Dhirajlal Rambhia
(Expert)
02 February 2022
COA will be your purchase cost.
COI will be NA charges & fees..
Yes, investment in sec. 54EC bonds can save LTCG.
COI will be NA charges & fees..
Yes, investment in sec. 54EC bonds can save LTCG.
furkan naviwala
(Querist)
02 February 2022
Sir property was acquired before 2001.. na done in 2021.. so total tax would be calculated 8n 2 steps.. LTCG n business profit???
Dhirajlal Rambhia
(Expert)
02 February 2022
Only change to above .... COA would be circle rate of the land as on 01.04.2001.
If no construction made, the gains will be LTCG.
If no construction made, the gains will be LTCG.
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