Capital gain exemption
This query is : Resolved
Shrikant tripathi
(Querist)
26 September 2017
Sir I am shrikant and I bought a land in 1998 in 48 thousand rupee and sell it in 2016 in 12 lakh rupee.
Sir if I buy another land of 10 lakh rupee how much tax have to pay by me to government. Plz answer soon sir..
Sir if I buy another land of 10 lakh rupee how much tax have to pay by me to government. Plz answer soon sir..
Amol S Joglekar
(Expert)
26 September 2017
no exemption for purchase of land as such subject to however section 54B
Shrikant tripathi
(Querist)
26 September 2017
Sir if i invest my whole money which I got from sell of my land to purchase another land then could I got exemption or not
Amol S Joglekar
(Expert)
27 September 2017
mere land can NOT entitle you to get exemption unless it is agricultural land.....
if you build a house on the land so purchased, however small it might be, you can avail exemption.
if you build a house on the land so purchased, however small it might be, you can avail exemption.
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