Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 July 2012
Dear Sir
I sold a residential plot in the Municipal Corporation limit and now I want purchase a agriculture land, can levy capital gain tax for the same?
Thanks
Saagar Fand
Pune
I sold a residential plot in the Municipal Corporation limit and now I want purchase a agriculture land, can levy capital gain tax for the same?
Thanks
Saagar Fand
Pune
11 July 2012
Capital gain will arise on sale of residential plot.
Further, investment in agricultural land is NOT eligible for exemption.
So you will have to pay tax on the total amount of capital gain.
Further, investment in agricultural land is NOT eligible for exemption.
So you will have to pay tax on the total amount of capital gain.
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 July 2012
Thank u su much
14 July 2012
You are welcome. You should use the thanks button to convey your thanks.
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