Capital gain- agriculture land
This query is : Resolved
27 June 2014
Hi,
A person sold agriculture land (inherited) in delhi approx. for rs 50 Lacs during 2013-14.
Can he liable to pay any tax/capital gain Tax & how to save taxes in future. please suggest.
A person sold agriculture land (inherited) in delhi approx. for rs 50 Lacs during 2013-14.
Can he liable to pay any tax/capital gain Tax & how to save taxes in future. please suggest.
Nikhil Kaushik
(Expert)
27 June 2014
in all probability it should be taxable. deduction can be claimed by making investment under 54B, 54F or 54EC...
Rupesh Jain
(Expert)
27 June 2014
taxable or not it depend on the cost of land . it may be taxable for tax saving you can invest u/s 54F 54EC etc. or you pay tax on gain.
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