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Clgt

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(Querist)
05 March 2016 my father have sell agricultural 1cr.now I have invest 50lac in bond.my cot of index 20lac. so how to calculate clgt
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CA Subham Verma

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CA Subham Verma (Expert)
05 March 2016 Agriculture Land is not a Capital Assets as per Income Tax Act. Therefore any gain from the same is not not liable for income tax.
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kartik

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kartik (Querist)
05 March 2016 but my land is only 6 km from municipality boundary & my my municipality populations above 1 lac
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