banner_ad

Capital gain

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 February 2015 Vacant Site Purchased in 2006-07
Sold in 2013-14

Where vacant situated beyond 8 kms from munipal limit and population less than 10000

whether liable to pay LTCG nor not
Profile Image

CA. Anoop Bhatia

Profile Image

CA. Anoop Bhatia (Expert)
19 February 2015 If the vacant site is agriculture land then only it can be treated as non-capital asset. However if it is non-agriculture plot then even if it is beyond 8 KMs, shall be treated as taxable long term capital transaction.

For more clarity you may refer to provisions of section 2(14) of the Income Tax Act 1961.
Profile Image

Rupesh Jain

Profile Image

Rupesh Jain (Expert)
19 February 2015 it is agriculture land beyond municipal limit then its exempt from capital gain. otherwise it is taxable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details