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Buying a plot

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 December 2010 Hello Expert ,
Is there any way of getting tax exemption if I bye a plot of land ?

10 December 2010 Hi Anonymous,

There is no Income Tax on buying a plot. However of course you can plan to save your tax at the time of selling the plot of land;

which may be u/s 54EC or 54F provided the plot is a capital asset. However if the same is located in rural area there will not be any tax on transferring the same.



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