capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 November 2009
in our client grand father property that is agricultural land. after he death.his three child shared the property evenly now in 18/04/2006 sold the property rs.12cr divided by eight shares each one got rs.1.50cr so my question is its come under capital gain? if capital gain means taxable or exempted ? please give answer with section
hshivakumar
(Expert)
13 November 2009
if it is agricultural land beyond the specified limits then it is exempt otherwise it taxable under the head capital gains.
CA Ravi Sisodia
(Expert)
13 November 2009
i agree with Expert.
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