Capital gains
This query is : Resolved
28 April 2017
Dear Sir,
I have recently sold NON agricultural land after ten years possession of the said land and would like to know whether I can invest proceeds into Agricultural land and build a farm house on said plot within three years without payment of long term capital gains tax?
Thank you
I have recently sold NON agricultural land after ten years possession of the said land and would like to know whether I can invest proceeds into Agricultural land and build a farm house on said plot within three years without payment of long term capital gains tax?
Thank you
28 April 2017
you have two options :
1. purchase Residential Hose Property and obtain proportionate exemption with regard to amount invested from net sales amount
2. invest in govt specified bonds and obtain maximum capital gain amount exemption
1. purchase Residential Hose Property and obtain proportionate exemption with regard to amount invested from net sales amount
2. invest in govt specified bonds and obtain maximum capital gain amount exemption
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