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Capital gain

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Vandna rana

Vandna rana (Querist)
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06 April 2017 Respected Sir,

I want to know that a person sale a residential house and then purchase agricultural land. Are capital gain exempt and taxable

CA MANISH SAXENA

CA MANISH SAXENA (Expert)
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06 April 2017 Hi Vandana,

In your case where sale of residential house and then purchase agricultural land is not covered in any exemption section of Capital Gain Chapter.
So this will be taxable.

Thanks
May connect me on manish.saxena@icai.org

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 April 2017 Not exempt taxable...............

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