Capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 April 2012
if there is a sale of agriculture land ,situated in area with pop less than 10000 & outside the municipal limits whether it is tax free or some other cond has to be satisfied for it being exempted.....?????
if there is diff of opinion regarding the taxability of the same , whether the advise fromt he ITax dept can be taken in this regard......if yes the process thereof.....
if there is diff of opinion regarding the taxability of the same , whether the advise fromt he ITax dept can be taken in this regard......if yes the process thereof.....
04 April 2012
If it is agricultural land than there is no Capital Gain tax applicable. The only condition is whether it is agricultural land or not.
CA CKP
Surat
9377897651
CA CKP
Surat
9377897651
Mihir Doshi
(Expert)
04 April 2012
Agriculture land, if satisfy the definition criteria of as per Income tax act, then Capital Gain is exempt.
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