Capital gain on agriculture land
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 July 2016
Hi,
I have 3 acres agriculture land for sure rural as its many km's away from nearest municipality.
But the thing is its been dug up and used for growing fish seed, meaning putting small fish seed and growing them to little bigger size before shifting into full ponds.Am I liable to pay long term capital gain on selling this land?
Am I eligible for exemption under 54B or only 54EC
I have 3 acres agriculture land for sure rural as its many km's away from nearest municipality.
But the thing is its been dug up and used for growing fish seed, meaning putting small fish seed and growing them to little bigger size before shifting into full ponds.Am I liable to pay long term capital gain on selling this land?
Am I eligible for exemption under 54B or only 54EC
03 July 2016
Yes you are liable for long term capital gain. Not eligible for 54B. Eligible for 54EC.
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