Capital gain on sale of agrictulture land
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 May 2016
What is the tax liability on sale of agriculture land?
How to calculate cost of index for agriculture land inherited from forefathers?
How to make it tax neautralize the tax on sale of agriculture?
How to calculate cost of index for agriculture land inherited from forefathers?
How to make it tax neautralize the tax on sale of agriculture?
20 May 2016
urban agricultural land : the capital gain arising from such lands is taxable.
you can take the value as on 01/04/1981, if the land is owned by your ancestors before that date
you can opt for exemptions to make it tax neutral
you can take the value as on 01/04/1981, if the land is owned by your ancestors before that date
you can opt for exemptions to make it tax neutral
20 May 2016
if it is in rural area then its tax free no tax will be give. if it under miunicipal limit then you have to give capital gain tax. for tax saving u/s 54B you have to buy another agriculture land.
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