CAPITAL GAIN ON SALE OF LAND AFTER GETTING NON AGRICULTURE STATUS
This query is : Resolved
24 November 2022
Dear All
I have sold agriculture land after converting the same as Non-Agriculture.
I Got the same land in inheritance.
I want to know how to calculate capital gain on the same?
What amount can be considered as cost of acquisition if purchased before the Year 2000? Is it the value on the date of purchase of land or on the date of conversion to Non-Agriculture??
Thanks
Nirmal Dave
I have sold agriculture land after converting the same as Non-Agriculture.
I Got the same land in inheritance.
I want to know how to calculate capital gain on the same?
What amount can be considered as cost of acquisition if purchased before the Year 2000? Is it the value on the date of purchase of land or on the date of conversion to Non-Agriculture??
Thanks
Nirmal Dave
24 November 2022
Cost of acquisition will be as per circle rate of land as on 01.04.2001.
28 November 2022
Thank You Sir for your valuable reply
28 November 2022
You are welcome..
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