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Agriculture land

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(Querist)
25 July 2014 an agriculture land is sold by doing plotting and without changing its land use .

is this sale subject to capital gain?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
25 July 2014 is the land is not being used for agriculture activities, then it wont be covered under exemption.
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ajay

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ajay (Querist)
25 July 2014 land was used for agriculture purposes for pvs. for years
but sold after dividing it into four plots
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ajay

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ajay (Querist)
25 July 2014 land was used for agriculture purposes for pvs. for years
but sold after dividing it into four plots
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
29 July 2014 then in such case u will get exemption................
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