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Capital gain tax

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Querist : Anonymous

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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
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CA Hardik Bunha

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CA Hardik Bunha (Expert)
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
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
20 November 2011 Not Applies to Rural Agriculture Land
Sec 45 Applicability
VK Singhania
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