Capital gain


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
24 July 2014 A INDIVIDUAL SOLD INHERITED AGRICULTURE(WITH IN CORPORATION AREA) LAND FOR RS. 10 CRORE.

CAN HE LIABLE TO PAY CAPITAL GAIN TAX OR NOT IF YES HOW TO CALCULATE TAX.

PLEASE SUGGEST.

NARESH

24 July 2014 if its in urban area then its taxable unless u buy a new agricultural land.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
24 July 2014 AS ON DATE HE WANT TO PURCHASE / INVEST APPROX 70% OF TOTAL SALE AMOUNT. ALSO SUGGEST HOW TO CALCULATE CAPITAL GAIN TAX IN THIS CASE.

24 July 2014 see the cal is diff one as u require cost of acuisition, and valuation on the date of acquisition and sec 50C is also applicable in ur case.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
24 July 2014 HOW TO CHECK COST OF ACQUISITION & FOR WHICH DATE.

24 July 2014 the day u or ur forefather purchased it and u consult a govt reg valuer in this case.

26 July 2014 just check whether it was bought before 1 April 1981, if yes, just get the valuation as on 1 April 1981.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
02 November 2026
Audit Executive

SRJP & Co LLP

Kochi

CA Inter

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
Featured 07 November 2026
Chartered Accountant

DPV & Associates

Chennai

CA

View Details