Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 November 2012
Capital Gain on sale of agricultural land in any area which is far from 8 Km from the municipality area & the population is not more than 10000 is exempt from tax.
But what if the conditions are not fulfilled. What would be the tax rate on sale of such agricultural land which is within the limits of municipality or whose population is more than 10000. Also I would like to know that the indexation benefit would be available or not for the land. Please suggest urgently.
But what if the conditions are not fulfilled. What would be the tax rate on sale of such agricultural land which is within the limits of municipality or whose population is more than 10000. Also I would like to know that the indexation benefit would be available or not for the land. Please suggest urgently.
23 November 2012
The gain on sale of land is taxable @ 20% and yes you can get the benefit of indexation.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Copyright software
- SFT Cash Deposit in Current Account
- Regarding TDS Applicability For Director Remuneration
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
