Agricultural land - capital gains
This query is : Resolved
23 April 2015
Agricultural land situated in Udma panchayath - 9Kms away from Kasargod municipality by road. But aerial distance will be below 8Kms. Will this be taxable under capital gains when it is sold.
23 April 2015
You have to see the last published population data of Kasargod. If you sell land today then the data published before 01.04.2015 will be relevant.
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If it is below 10 lac, then the land can not be treated as capital asset and as such no capital gain will arise.
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If it is below 10 lac, then the land can not be treated as capital asset and as such no capital gain will arise.
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