Capital gain taxability
This query is : Resolved
04 August 2020
I have purchased agriculture land on 29.08.2012. I converted agriculture land to non agriculture land in 2017-18 as on 23.10.2017. after conversion I sold this land on 16.07.2019. what will be capital gain liability?
04 August 2020
Capital Gain Tax Liability as per normal provision no exemption will be claimed for agricultural land,
The cost of conversion of land from Agricultural to Non-Agri Shall be treated as part of cost of Improvement.
The cost of conversion of land from Agricultural to Non-Agri Shall be treated as part of cost of Improvement.
04 August 2020
What will be period of holding and cost of acquisition ?
09 August 2020
Since it has been kept for less then 3 years it will be considered as Short Term Capital gain.
https://cleartax.in/s/capital-gains-exemption-on-sale-of-land
https://cleartax.in/s/capital-gains-exemption-on-sale-of-land
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Bank Accounts in Balance Sheet for ITR 3
- Gift of mutual fund units to daughter
- Annual return of gst limit
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Reporting of STCG on Property in ITR
- Error while filling exam form November 2026
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
