capital gain or Wealth Tax
This query is : Resolved
PRASHANT DEOCHAKE
(Querist)
29 December 2010
I want to know taxability in the following case:
An agricultural land sold & considerable amount of gain incurred.
An agricultural land sold & considerable amount of gain incurred.
Aditya Maheshwari
(Expert)
29 December 2010
Capital Gains if urban land sold.
PRASHANT DEOCHAKE
(Querist)
29 December 2010
Land is loacted in rural area.
Secondly, investment made in LIC gets any bebefit?
Secondly, investment made in LIC gets any bebefit?
Aditya Maheshwari
(Expert)
29 December 2010
If located in rural area as per section 2(14) of IT ACt then no tax on sale.
LIC policy premium paid eligible for deduction u/s 80C but no deduction allowable from capital gains.
LIC policy premium paid eligible for deduction u/s 80C but no deduction allowable from capital gains.
PRASHANT DEOCHAKE
(Querist)
29 December 2010
Thank you so much
Regards
Prashant Deochake
Regards
Prashant Deochake
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