Income tax relating to non-agriculture land
This query is : Resolved
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.
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.
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.
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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