Capital gain tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 November 2011
1. Is there capital gains tax applicable for agri lands ?
2. If applicable is there any guide lines for this?
3.Where can I get relevant details? Any reference books or from internet?
A quick reply will help very much/
Thanks
2. If applicable is there any guide lines for this?
3.Where can I get relevant details? Any reference books or from internet?
A quick reply will help very much/
Thanks
19 November 2011
Yes capital gain tax apply on sale of agriculture land. refer section 45.
You can refer law and practice or mukesh patel for better view.
if u have africulture land and u sold it then u should buy other agriculture land so that whole gain arise will be exempt u/s 54B
You can refer law and practice or mukesh patel for better view.
if u have africulture land and u sold it then u should buy other agriculture land so that whole gain arise will be exempt u/s 54B
20 November 2011
Not Applies to Rural Agriculture Land
Sec 45 Applicability
VK Singhania
Sec 45 Applicability
VK Singhania
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