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Income tax relating to non-agriculture land

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(Querist)
27 December 2012 sir,

my father sold a land (at govt market value) to my mother before two years. now we trying to sale this non-agriculture land. what will be tax liability. and how to save tax.
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Rupesh Jain

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Rupesh Jain (Expert)
03 January 2013 capital gain count as short term capital gain
you have to pay tax on that income

no way to save.
it may save if you sale it after 3 years
and purchase residential house from its proceeds.
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