Cg fro agri land
This query is : Resolved
06 August 2012
hi frens,
an assessee purchase an agri. land which is away from 8 kms municipal limit and sold the land by constructing residential plot in the same.whether capital gain arises for such sale transactions??? pls reply....
an assessee purchase an agri. land which is away from 8 kms municipal limit and sold the land by constructing residential plot in the same.whether capital gain arises for such sale transactions??? pls reply....
06 August 2012
1. Ther are 2 conditions... 8kms is satisfied ... what about 10000 population. If any one is satisfied, it is a capital asset and hance not exempt. 02. The very activity of plotting is regarded as business activity. So be alert and cautious.
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