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Capital gain taxability

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(Querist)
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?
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Harshit Bangar

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Harshit Bangar (Expert)
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.
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MOHAMMED ZARIF KHAN

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MOHAMMED ZARIF KHAN (Querist)
04 August 2020 What will be period of holding and cost of acquisition ?
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Aashok Kumar Sharma

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Aashok Kumar Sharma (Expert)
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
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