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Capital Gain Issueeee

This query is : Resolved 
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(Querist)
03 November 2021 Dear Friends
I am highly obliged to all of you for all the guidelines being give to me from time to time.
Once again I approach with the issue of capital gain tax.
Date of purchase of the agricultural plot is 26-03-2019 and date of sale of he said plot is 08-04-2021 (After two years 12 Months 12 days)

Year ending March 19 Purchase
Year ending March 21 Sale

Sale Purchase two years 12 months 12 days

Money received in April 2021 by way of sale of property has been paid to someone on account of advance given for purchasing some other plot stamp duty & registration for which shall be effected by December 2021

Whether in such case will attract capital gain tax?

With kindest regards Yours Tarique Rizvi




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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
03 November 2021 As the holding is more than 24 months, it will be long term gain.
Yes, it will attract LTCG at @ 20%+cess. No exemption when invested in any land.
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