Capital gain
This query is : Resolved
02 December 2011
Respected Sir/Madam
I want to know if a person sales urban agriculture land in his life time. and after his death according to his will his sons getting fund in cash and invested in agriculture land in himself name for getting the u/s 54 F in the income tax return of father. can is it possible .
I want to know if a person sales urban agriculture land in his life time. and after his death according to his will his sons getting fund in cash and invested in agriculture land in himself name for getting the u/s 54 F in the income tax return of father. can is it possible .
03 December 2011
Dear friend , since Agricultural land is not a capital assets , any transfer of Agricultural land does not raised Capital Gain.
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