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Capital gain- agriculture land

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(Querist)
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.
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Nikhil Kaushik

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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...
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Rupesh Jain

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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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