Capital gain on sale of agriculture lan

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CA Kalpesh Patel (Querist)
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24 August 2014 I have agriculture land situated with the municipal limit and stamp value of it is 60 lakhs and I want to sale it, than what should be the ways to save capital gain tax @ 20% 1. if invest it in another agriculture land..? 2. if I purchase it in resident house..? 3. and if I convert it in non agriculture and than sold..than what should be the consequences..?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 August 2014 you can choose between 1 and 2 option. if you decide to choose third option, then 1st option is ruled out.

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